Uncovering Noteworthy Technical Analysis Findings for TEXAS INSTRUMENTS INC (NASDAQ:TXN).

Our stockscreener has identified a possible breakout setup on TEXAS INSTRUMENTS INC (NASDAQ:TXN). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:TXN for potential opportunities.

Insights from Technical Analysis

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Taking everything into account, TXN scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, TXN has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• 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.
• Looking at the yearly performance, TXN did better than 83% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
• TXN is part of the Semiconductors & Semiconductor Equipment industry. There are 107 other stocks in this industry, TXN did better than 66% of them.
• In the last month TXN has a been trading in a tight range between 191.80 and 201.29.

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

How does the Setup look for NASDAQ:TXN

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NASDAQ:TXN exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, TXN also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 195.78, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

More breakout setups can be found in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.