On the chart we can see that there are higher highs and higher lows. The RSI indicator crossing above the 50 mark and heading upward, indicates a bullish momentum. We expect that the price will reach the resistance. As it is a strong resistance, we anticipate the price to get rejected. Next, we expect another upsloping attempt towards the resistance level....
With a healthy respect, Texas Instruments is advancing toward the resistance line at $158.99 slowly but surely. Soon, the share should climb above this mark and push off into the green zone between $215.90 and $237.98 to complete wave B in green before turning downwards again. There is a 33% chance, though, that the course could shift away from the next resistance...
The price is making an ascending triangle pattern so we expect the price to raise. Take the entry once the price breakout of the triangle. Look at the volume surge in order to avoid fake breakouts.
Take profit and target are shown on the chart.
Good luck
Up Channel Breakout with a large inverted ascending scallop formation
Inverted ascending scallops are a bullish pattern, and will likely act like this as a support is found above the channel
The U.S. warning China it could face devastating sanctions if it defies the ban on doing business with Russia!
This is a move that could have huge impact on American companies.
54% of TXN Texas Instruments revenue comes from China.
My price target from TXN is $134.
Looking forward to read your opinion about this.
