XLNX 3% Lower, Diamond Pattern Suggests More Downside

by Steve Miller | Apr 6, 2018 | Slim Talk

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.

“I have been an “all in” member as soon as askslim.com went up and running. In the short time since, I have really learned quite a lot. I think of Slim’s cycle analysis as creating a pair of glasses to more clearly see the market. Even though I am still in the early stages of learning how best to interpret these cycles, the membership has paid for itself many times over. I also enjoy and find helpful Slim’s trader psychology segments. If you are even a little curious about joining, give it a try. You won’t be disappointed!”

-- Jake R

XLNX 3% Lower, Diamond Pattern Suggests More Downside

Have Website or Membership Questions?

What Our Members Are Saying