Chipmaker Xilinx (XLNX) was trading 3% lower during the Monday morning session, after JP Morgan (JPM) downgraded the stock from to Underweight from Neutral with a cut to the price target from $68 from $73.

Our analysis of the XLNX market cycles on the weekly chart below yields a similar conclusion. The declining phase of the current market cycle ends in May-June 2018. We also note the unusual “diamond top” with patterns suggesting a drop to around $61.

Xilinx (XLNX) Stock Chart with Weekly Bars

For an introduction to cycle analysis, check out our Stock Market Cycles video, or watch the askSlim Market Week show every Friday on our YouTube channel.

Powered by WPeMatico