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Next Support Level for Texas Instruments (TXN) is $31.54
Jan 08, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of Texas Instruments (NYSE:TXN) have bearishly opened below the pivot of $31.96 today and have reached the first support level of $31.74. Investors may be interested in a cross of the next downside pivot targets of $31.54 and $31.12.
Texas Instruments share prices have moved between a 52-week high of $34.24 and a 52-week low of $26.06 and are now trading 21% above that low price at $31.52 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.
Based on a current price of $31.52, Texas Instruments is currently 6.6% above its average consensus analyst price target of $29.45. The stock should find initial support at its 50-day moving average (MA) of $29.91 and further support at its 200-day MA of $29.44.
SmarTrend recommended that subscribers consider buying shares of Texas Instruments on November 6th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.71. Since that recommendation, shares of Texas Instruments have risen 7.5%. We continue to monitor TXN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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