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Possible Bullish Inside Day Candle Pattern Detected for Texas Instrument (NASDAQ:TXN)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Texas Instrument (NASDAQ:TXN) based on the price action in the company's shares. Yesterday's price range of $118.99 and $120.64 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Texas Instrument may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Texas Instruments Incorporated operates as a semiconductor design and manufacturing company. The Company develops analog ICs and embedded processors. Texas Instruments serves customers worldwide.

There is potential upside of 2.4% for shares of Texas Instrument based on a current price of $117.38 and an average consensus analyst price target of $120.19. The stock should find initial resistance at its 200-day moving average (MA) of $121.98 and further resistance at its 50-day MA of $128.63.

In the past 52 weeks, shares of Texas Instrument have traded between a low of $101.57 and a high of $135.70 and closed yesterday at $117.38, which is 16% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Texas Instrument and will alert subscribers who have TXN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle texas instrument

Ticker(s): TXN