OptionsPlay DailyPlay

The bearish DailyPlay we chose for Thursday Sept 26th is Texas Instruments (TXN). TXN is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 0.82% move higher and its 1m and 6m trend has turned bullish on 9/24 but has failed to make new highs and bounced lower off its $75 resistance level.

Texas Instrument’s 1m and 6m trends turned bearish yesterday and recently bounce lower off its $110 resistance level. With a technical score of 6 (out of 10), TXN is a neutral stock that is starting to trend lower.

View this Trade Idea on TXN

As a stop loss, if TXN was to trade below $110 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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