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XLNX

Posted by StockBuz on October 15, 2011 at 9:17pm
There are times when I have a difficult time *trusting* patterns and their implied targets b/c I allow my emotions of the current macro environment to control my decisions, but this is one I'm going to trust and roll the dice on. After all, if banks implode, all patterns will turn to dust; so whats the point? The implied target of this falling wedge breakout in XLNX is $34-40 over the next four months. Being in an overbought state, it could possibly pullback which would be an ideal zone to get into but even buying *here* offers a great risk reward; with a stop marked as shown.

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Tags: long-ideas, semiconductors, xlnx
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