Texas Instruments (TXN) – Bearish DailyPlay for Thursday Sept 26th, 2018
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.
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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