The bearish DailyPlay we chose for Wednesday, Jan 2nd is Texas Instruments (TXN). TXN is part of the Technology Sector (XLK). Over the last month, XLK has experienced an 8.80% move lower and its 1m and 6m trend have turned bearish on 12/4 and recently broke below $64 support level.
Texas Instrument’s 1m and 6m trends turned bearish on 12/7 and recently broke below its $96 support level. With a technical score of 7 (out of 10), TXN is a strong stock that is starting to turn lower.
As a stop loss, if TXN was to trade above $96 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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