I realize that this response is a little belated, but we can also say that XLNX won't fail.
The long-term picture on both of these stocks looks solid. Both have weathered the storm and positioned themselves for a return to growth. The debate now is on the length of the fuse.
Like ALTR, XLNX has had two months of very slow volume. September was a 12-month low for average daily volume on XLNX at 1,485,716 shares and October beat that record with a low of 1,436,670 shares. However, unlike ALTR, XLNX's short volume has remained at relatively constant levels. The 3,666,329 shares short for October is down slightly from over 4 million shares in May. This might position it for a bigger spurt should shorts get squeezed.
However, it looks like the shorts might get a chance to cover at reasonable levels. Today, XLNX nudged below the rising trendline. I'm leaving it up to tomorrow to corroborate this. |
