After Yesterday's Rally of 2.02% Shares Could Potentially Pullback
Texas Instruments (NYSE:TXN) traded in a range yesterday that spanned from a low of $61.16 to a high of $62.53. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $61.31 on volume of 2.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Texas Instruments share prices have been bracketed by a low of $43.49 and a high of $63.31 and are now at $62.26, 43% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.
SmarTrend recommended that subscribers consider buying shares of Texas Instruments on February 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.79. Since that recommendation, shares of Texas Instruments have risen 16.0%. We continue to monitor TXN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Texas Instruments