Two Trading Ideas for Texas Instruments (TXN)
11/16/2009 11:27 am EST
Texas Instruments (TXN) has had a nice run to the upside this past week. However, decreasing volume for the past four trading days, combined with candles that appear exhausted indicate the move will take a rest.
I would suggest a quick short down to the $25 level. However, once the stock reaches $25, I would wait to see if it will bounce off that level or continue down.
The stock appears to have difficulty each time it reaches the $25-$26 level sustaining the move.Whether this is the breakout move to finally push past remains to be seen.
By Tim Bourquin, Trading Content Director, MoneyShow.com