Not sure about, will follow the outlined projection for a bit,as it appears to make two failed attempts at new highs. Entry 117 SL 121 TP 92 is a big RR, 6.25.
Over the same time fame as the TSMC channel, TXN has been trading in a bearish megaphone pattern and has hit the $117 top of range level for the 6x. No reason to believe the 6th time would be any different from the earlier 5 occurrences.
TXN has tested all time high resistance over three times and is heading up to its 4th test. With each test, the resistance gets weaker, leading me to believe we will see a breakout of roughly 6% for swing trading purposes where I would take profit. The market and major index's have been choppy over the last week and have made new highs then have been slightly...
Tonight's earnings report from Texas Instruments must not be underestimated in importance. It will be pivotal for the continued stimulus and optimism in the tech sector which has once again powered the recovery from the December lows. We would love to be very optimistic on the name as we hold NVDA and AMD but we are quite worried about the implications of a miss...
Really like today's candle. Would like to see a retest of the low of January 29th candle to get into some March $100 calls at $4.10 with a $1 stop.
Let's see what she does next week :-)
TXN shows a cross-over on MACD at Fibonacci Retracement 0.500 and on 1 hr. chart likely having a short dip below $97 entry area. Recently increased their dividend nicely over last 5 years as well.
Been watching them invest in R&D and they have chips in growing markets for 5G, automotive, communication and industrial.
In the last 12 months, TXN has returned...
$TXN Texas Instruments forming into a descending triangle on the weekly chart. Rejected off the 20d ema line resistance last week.
Targeting a move down to the $84.00-$88.00 range by March (assuming unimpressive or worse earnings report late January). Could possibly see us going as low as ~$80.00 to tag the 200d ema line.
Also of note - unusual bearish options...
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TXN
