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| Xilinx Inc.
After an initial rejection of yearly resistance followed by a resurgence of buyers interest occurring during the pullback phase, the captive attention of traders has grown significantly enough to warrant a closer inspection to the developments happening in this stock at present with a strong indication of bullish momentum dominating direction from here onwards.
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The price performance in the second half of this year has been responsible for generating much of the hype around the stock after it found support at $43 in an otherwise shapeless market and is yet to look back on the impressive grounds gained up until today.
Resistance just over $55 was always going to interrupt proceedings given the relatively trendless price formations in place however it might only provide a momentary pause when analysing the RSI which managed to hold onto the 50 level, indicating a vigorous attempt from the bulls in defeating price resistance.
The rebound off $49 and back towards this year's highs may have caught laggard shorts who sold into the move downwards with evidence of deep selling as suggested in the recent weekly candles.
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