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Uptrend ExhaustionArchive - 3/15/2024 - Sign In to see current Signals. |
Texas Instruments (TXN) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a fourth consecutive positive week for the Texas Instruments (TXN). During the week, the TXN climbed 0.22 points, or 0.13%, and closed at 172.52 on Friday, March 15, 2024. Weekly volume was 52% above average. TXN is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See TXN long-term trend chart] A long-term downtrend had started on October 25, 2021 at 202.26 and reached 139.48 on October 30, 2023. TXN lost 62.78 points, or 31.04%, in 105 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 138.15 and resistance is at 188.87. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend. Medium-term trend: [See TXN medium-term trend chart] A medium-term downtrend had started on July 25, 2023 at 188.12 and reached 139.48 on October 30, 2023. TXN lost 48.64 points, or 25.86%, in 13 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (173.13). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend. Weekly Technical Indicators: [See TXN weekly technical indicators chart] Weekly technical indicators are neutral. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help. The weekly MACD line is above its signal line since December 8, 2023. Use the following link to access a MACD help. Short-term trend: [See TXN short-term trend chart] A short-term uptrend had started on February 13, 2024 at 155.46 and reached 177.75 on March 7, 2024. TXN gained -22.29 points, or -14.34%, in 23 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level. Daily Technical Indicators: [See TXN daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is above its signal line since February 16, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak. During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level. During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level. Candlestick pattern: [See TXN candlestick chart pattern] On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.
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