Hubert Senters here.
Let’s take a look at Xilinx. Xilinx is on the move to higher price targets so let’s see if we can figure out where the next price targets is going to be. Obviously, it looks great. It is above the cloud. It is above the turning, the standard line. ADX is above $20. All things point to higher prices but exactly how high.
So obviously what you can do pretty simple just back up here on the monthly chart and see where the most recent highs were. That’s pretty easy. Natural resistance all time high. So it will probably go there $154 but it may go other places too before it goes there. So we’re going to dial it back to a daily chart and then we’re going to put a fibonacci extension on this bad boy.
And we’re going to go one, two, three and see if there’s a couple more stops along the way. One, two, three there we go. So next target $147, $150 and $154. Now, if you back this thing up I’m going to remove this. Remember those numbers I just gave you and then you can also go like this. You can go from dead lows and you can go one and you can go two and three. It’s not perfect but it will give you the higher targets to $161 and $166.
Troy Noonan is doing a special webinar tonight Finding the Sweet Spots Trading Two Super Hot Markets Wednesday, June 30th at 8PM EST. I’m going to HYPERLINK to the registration page. If you’ve never seen Troy speak or present he is a solid guy. He’s got good information and I think you’ll learn something from him so go checkout the webinar and let me know what you think.
Good luck. Hope it helps. See you on the next video.
Hubert.
