Texas Instruments $TXN Trade Idea

BATS:TXN   Texas Instruments Incorporated
Yesterday I took a trade on TXN

The price broke above the 50 MA and all the key moving averges I use for short term trading.

In addition the price closed with a bullish hammer resting on the moving average.

Recently the price also closed above the long term diagonal resistance.

THe oscillators are showing overbought condition in the short term, so I could see a pullback at some point to test the MAs, however the stock seems to be showing bullish momentum.

My price target will be around $165 in the short/medium term but I might exit with profit at $160.50 if it starts to look overextended in the short term and re-enter if the price makes a pullback before another way up.

Hope this was helpful for the readers, can follow me for more ideas.

Thank you,

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