Texas Instruments Inc. (Friday’s close US$129.46) rallied from US$46.73 in January, 2016, to US$120.75 in January, 2018, (A-B) and then stayed below US$120 for the subsequent year and a half (dashed line). The recent move above US$120 signalled the resumption of the up-trend toward higher targets (C).
Behaviour indicators including the rising 40-week Moving Average (40wMA) and the rising trend-line (solid line) confirm the bullish status. There is good support near ±US$120, but only a sustained decline below the 40wMA (currently near ±US$115) would be negative.
Point & Figure measurements provide targets of US$145 and US$160. Higher targets are visible.
updated rb-gi-meisels-1019stock
Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.
Chart source: www.decisionplus.com