Technical Setup: TEXAS INSTRUMENTS INC Appears Poised for a Breakout.

We've identified TEXAS INSTRUMENTS INC (NASDAQ:TXN) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NASDAQ:TXN for further developments.

Technical Analysis Observations

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Overall TXN gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, TXN is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• TXN is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so TXN is lagging the market slightly.
• When comparing the yearly performance of all stocks, we notice that TXN is one of the better performing stocks in the market, outperforming 76% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
• TXN is an average performer in the Semiconductors & Semiconductor Equipment industry, it outperforms 66% of 107 stocks in the same industry.
• In the last month TXN has a been trading in a tight range between 190.26 and 201.29.

Check the latest full technical report of TXN for a complete technical analysis.

How do we evaluate the setup for NASDAQ:TXN?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NASDAQ:TXN is 9:

Besides having an excellent technical rating, TXN also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 194.28, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NASDAQ:TXN

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.