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Registered User
Joined: 7/5/2005
Posts: 4
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Registered User
Joined: 1/21/2005
Posts: 11
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jnally,
Texas Instruments looks very positive. My understanding is that they have a new chip technology that will be revolutionary. My memory slips but it I think it allows one to turn their PC into a TV. Their whole sector is blasting up. Technically TXN is in a fibinocci wave 5 on their daily chart, but still in wave 3 (longest & strongest)on the weekly. While at the top of a daily channel (i.e. chance it will retreat to @$29.50 or so) my hunch is that in the long term TXN will retrace at least 50% of the big '00 to '02 plunge. This would put TXN back to $56.30 vs. it's $30.77 close today. I've been toying with this one myself (e.g. '07 Call LEAP).
Good trading,
Terry
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Registered User
Joined: 5/17/2005
Posts: 221
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This has been forming a narrowing ascending wedge which is bullish , price broke over the upper resitance , but is now stalling , two dojis side by side and decreasing volume indicates that a pull back might be in the future. This is varified in the stochastics and CCI 14(leading indicator) being in overbought territory. There is upside to this stock if it continues up short term ...to about 32.8 / 33 , which also hapen to be a little shy of the 50% retracement that terry mentions above. if it breaks above this resistance line then could go all the way to 56 .. now that would be nice !!! . will put this one on the buy watch list
Malcolm
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 Gold Customer
Joined: 5/4/2005
Posts: 74
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jnally:
What I have found interesting as an interesting studing is tracking the various indicators vs price performance to assess short term predictive utility (realizing price drives indicators ... not vice versa). Here's a summary for TXN (short term):
+ TSV confirming trend
+ OBV confirming trend
+ MS confirming trend
+ ADX confirming trend/strength
+ RS:SP-500 confirming trend
+ TSI925,13) confirming trend
- Stochastics ... indicating overbought
- Williams ... indicating overbought
- Chaikins ... weakening
- Price Channel ... indicating a possible rollback
- Price approaching trend line resistance
It will be interesting to see how this shakes out.
However, aside from technical indicators, the reason TXN has had the positive uptrend is TXN exceeded earnings expectations at the last report and received a number of analyst upgrades. Institutions start accummulating on upgrades.
However, beware ... recently a few analysts have downgraded TXN based on valuations (such as PEG>1 and others). That's the reason for the doji referenced in the prior post. If some influential houses (e.g.Goldman Sachs)downgrade TXN ... the price will rollback regardless of what Fibonacci and/or any of the above indicators imply. And this is consistent ... downgrades lead to retracement because institutions start distributing shares.
Good Luck,
markacz
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Registered User
Joined: 5/17/2005
Posts: 221
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nice point Mark
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