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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Teri Garner who wrote (33648)	8/28/2001 1:00:55 PM
From: puborectalis	Read Replies (1) \| Respond to of 37746

In our last analysis of Xilinx(XLNX) in late June, we mentioned the $40 support level was going to be key. We said back then "a fall below $40 would probably lead the stock to cover the gap" which was found between $36.10 and $37.5. The stock did in fact fall below $40 covered the gap and began trading sideways in a range between $35 and $43. The stock is now trading in the upper part of the range above $40. The stock has a couple of indicators on its side. The money flow chart has been rising since the second half of July, and the stock is once again trading hand in hand with the 50-day MA. On the other hand, the stock will find strong resistance below $42. But a break above that level accompanied with a break above $43.5 would result in an initial upward channel beginning to form in the chart, which would certainly open the doors for further gains. Stock has initial support at $40, but stronger support is found just above the $38 level. Stock is trading lower on 555,978 Island shares.