Price has been within a bearish channel since the end of April. The primary trendlines are the solid purple lines but there is an intermediate bullish pattern forming which is illustrated by the dashed purple line which is creating a bullish falling wedge pattern. Look for the breakout around $95 on the falling wedge then we would wait for confirmation on the retest of the previous resistance line.
Based on the Fibonacci Extensions I would target $102.79 & $106.89. These are the 38.2% & 50% extension levels along with previous support/resistance zones.
Based on the Fibonacci Extensions I would target $102.79 & $106.89. These are the 38.2% & 50% extension levels along with previous support/resistance zones.
Comment:
XLNX broke out of the bullish wedge pattern today. Aiming for those price targets listed in the previous post.