The last time I looked at Texas Instruments (TXN) was back on Friday, when I noted that, "TXN looks much stronger than a month ago. If prices can close above the March high convincingly then we could see a test of the January highs. The potential target in the months ahead is the $130 area assuming we can break out to new highs. Traders could go long on a close above $113 risking below $105." Prices have inched a bit higher today but we are still short of my breakout level of $113. Let's remain patient and bullish.
In this daily bar chart of TXN, below, we can see that prices are staying in a narrow high/low range today. A big range on the day can indicate that it is easy to push prices up or down. A narrow range can mean that supply and demand are more "balanced." TXN is above the flat 50-day moving average line. The 200-day line is rising and bullish. The daily On-Balance-Volume (OBV) line is above its December level - hence an uptrend and positive. The Moving Average Convergence Divergence (MACD) oscillator is now above the zero line in positive or bullish territory.
In this weekly bar chart of TXN, below, we can see that prices are above the rising 40-week moving average line. The weekly OBV line is positive and the MACD oscillator is narrowing towards a possible go long signal.
In this Point and Figure chart of TXN, below, we can see the price entry at $110.87.
Bottom line: TXN is moving in the right direction but I would prefer to wait for the close above $113 before buying.