Xilinx Inc. (NASDAQ:XLNX) is a technology stock that has been coming under pressure recently. Today, the stock is trading lower by 0.88 cents to $70.14 a share. Traders and investors should note that the stock has been in a trading range since the start of 2018. The high end of the range has been around $77 and the low end has been around $62.50. A case can be made that XLNX has been making higher lows every time the stock price has tested the low end of the range.
Support
This time around, the $65.00 area should serve as important support when tested. The 100-week moving average is also around that level as well, which will increase the odds of institutional support – and that's what moves stocks.