TXN has formed a clear breakout pattern. Price has a clear shot at 200 or higher if the market provides support. Stock needs to hold the tan box. If it gaps up premarket I will wait for a pull back into the box.. Watch for a false breakout given the recent market weakness. Any move back below box would void the trade. Targets are the fib extensions above.
Note
Be aware that price may need to pull back again before making a push to new highs. A trade can be taken off of the bottom of the box with a tight stop or on a clean break with volume of the high.Note
So it pulled back today and maintained bullish price action despite big down day for the indexes. Will continue to watch next week.Note
Pulled back with the broader market but has now recovered. Back on breakout watch. Note
Broke out on next try. T1 hit.Note
Will close the remainder b/e if the markets sell off. I can always re-enter.Note
Stopped.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.