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$TXN Maxed Out To The Upside, See The Proof

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Shares of Texas Instruments Incorporated (NASDAQ:TXN) are likely done going up and will correct sharply lower. Why is this the case? It is using simple technical analysis logic. Connect a trend line to all previous highs going back to October 2015. Every time this trend line is tagged, Texas Instruments pulls back. In addition, the stock is 16% above its daily 200 moving average, historically stretched. Lastly, a little fundamentals thrown into the mix shows the stock trading at a P/E of 23.5, historically extremely rich. The stock has both technical and fundamental reasons to pull back. Expectations are for a correction to $73.00, a drop of 11%.

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Stock chart signals strong sell on Texas Instruments Inc


This article was written by Tony Jackson for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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