Texas Instruments has been consolidating for almost a year, but now there could be signs of a pending move.
The first pattern on today’s weekly chart is the series of higher lows since October as prices remained below roughly $184. The result is an ascending triangle, a potential bullish pattern that TXN could be trying to escape.
Second, Average True Range tightened to the narrowest since early 2022. Will the squeeze give way to price expansion?
Next, this week brought a lower low than last week and a higher high. That kind of outside candle could suggest buyers are getting active.
Finally, the 10-week simple moving average (SMA) is roughly equivalent to the 50-day SMA. Notice how it’s rising and starting to follow TXN higher -- a potential sign of a bullish intermediate-term trend.
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The first pattern on today’s weekly chart is the series of higher lows since October as prices remained below roughly $184. The result is an ascending triangle, a potential bullish pattern that TXN could be trying to escape.
Second, Average True Range tightened to the narrowest since early 2022. Will the squeeze give way to price expansion?
Next, this week brought a lower low than last week and a higher high. That kind of outside candle could suggest buyers are getting active.
Finally, the 10-week simple moving average (SMA) is roughly equivalent to the 50-day SMA. Notice how it’s rising and starting to follow TXN higher -- a potential sign of a bullish intermediate-term trend.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.