Texas Instruments Battles Historic Level
Texas Instruments is battling a long-term price line, and some traders may think the chipmaker is ready for a breakout.
The first pattern on today’s chart is the $202.26 level, its previous all-time high from almost three years ago. TXN approached this zone in late May before pausing. It tried again in July but fell along with the rest of the market. The stock crossed above it in late August and began September with a revisit below. However, it’s been surpassed in the last four sessions. Is resistance giving way?
Second, prices have bounced at the 100-day simple moving average (SMA). The 50-day SMA has also stayed above the 100-day SMA. Those patterns could suggest that a longer-term uptrend is in effect.
Third, our 2 MA Ratio custom script in the lower study shows the 8-day exponential moving average (EMA) crossing above the 21-day EMA. That may suggest that a short-term uptrend is starting.
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Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
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The first pattern on today’s chart is the $202.26 level, its previous all-time high from almost three years ago. TXN approached this zone in late May before pausing. It tried again in July but fell along with the rest of the market. The stock crossed above it in late August and began September with a revisit below. However, it’s been surpassed in the last four sessions. Is resistance giving way?
Second, prices have bounced at the 100-day simple moving average (SMA). The 50-day SMA has also stayed above the 100-day SMA. Those patterns could suggest that a longer-term uptrend is in effect.
Third, our 2 MA Ratio custom script in the lower study shows the 8-day exponential moving average (EMA) crossing above the 21-day EMA. That may suggest that a short-term uptrend is starting.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit https://www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
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