Two Trading Ideas for Texas Instruments (TXN)

11/16/2009 11:27 am EST

Focus: STOCKS

Tim Bourquin

Co-Founder, The Traders Expo and The Futures & Forex Expo

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.


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By Tim Bourquin, Trading Content Director, MoneyShow.com

 

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