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Uptrend Exhaustion

Uptrend Exhaustion stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

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- 3/15/2024 -
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Texas Instruments (TXN) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic and MACD bearish divergenceTrend resistance at 173.13
Daily :The price has fallen below the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving AverageBullish Piercing Line CandlestickPrice is near the Fibonacci 23.6% retracement level
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.23
Williams' Percentage Range (W%R) 44.10
Lane's Stochastic (%D-Slow) 54.09
Greed/Fear Indicator (GFI) 58.08
Moving Average Converg./Diverg. (MACD) 2.35
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.82
Williams' Percentage Range (W%R) 21.30
Lane's Stochastic (%D-Slow) 53.26
Bearish
Greed/Fear Indicator (GFI) 61.42
Moving Average Converg./Diverg. (MACD) -0.30 Bearish
Trading Signals
Description Value Chart
Yearly Trendline Resistance 188.87
Upper Bollinger Band 178.58
Parabolic System 177.07
Quarterly Trendline Resistance 173.13
Daily Stochastic Crossing 173.09
Price 172.52
Weekly Stochastic Crossing 169.11
20 Day Moving Average 168.74
50 Day Moving Average 165.98
Quarterly Trendline Support 160.34
Lower Bollinger Band 160.20
Yearly Trendline Support 138.15
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Semiconductors 59
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 176.35
High Date 03/12/2024
Low 168.71
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 155.46
Low Date 02/13/2024
High 177.75
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 139.48
Low Date 10/30/2023
High 177.75
High Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Test Resistance
Resistance 173.13
Support 160.34
High 188.12
High Date 07/25/2023
Low 139.48
Low Date 10/30/2023
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 188.87
Support 138.15
High 202.26
High Date 10/25/2021
Low 139.48
Low Date 10/30/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.