XLNX data by YCharts
(XLNX - Get Report)
This company designs, develops and markets programmable platforms, including integrated circuits, software design tools and predefined system functions delivered as intellectual property cores. This stock is trading up 2.2% at $33.94 in recent trading.
Today's Volume: 2.59 million
Average Volume: 2.50 million
Volume % Change: 59%
Shares of XLNX are rising modestly Wednesday after Raymond James reiterated its outperform rating on the stock. The firm currently has a $36 price target on the shares.
From a technical perspective, XLNX is bouncing notably higher here right off both its 50-day at $33.61 and its 200-day at $33.64 with above-average volume. This move is quickly pushing XLNX within range of triggering a near-term breakout trade. That trade will hit once XLNX manages to take out some near-term overhead resistance at $34.48 with high volume.
Traders should now look for long-biased trades in XLNX as long as it's trending above its 200-day at $33.64, and then once it sustains a move or close above $34.48 with volume that hits near or above 2.50 million shares. If that breakout triggers soon, then XLNX will set up to re-test or possibly take out its next major overhead resistance levels at $35.57 to $36.31. Any high-volume move above those levels will then put $36.56 to $37 into focus for XLNX.