Texas Instruments (TXN) – Bearish DailyPlay for Wednesday, Jan 2nd, 2019
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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