Texas Instruments: Rebound Underway, But Downside Still in PlayTexas Instruments initially continued its decline but has recently shown early signs of a rebound. Nonetheless, we still see greater downside potential in magenta wave (3), and expect the broader bearish magenta impulse to ultimately extend into the beige zone between $130.04 and $107.75. Should a new (corrective) high occur in green wave alt. above $221.79, it could temporarily postpone the anticipated sell-off. However, even in this 30% likely scenario, price would likely reverse no later than at the higher resistance level at $240.67.
