Texas Instruments Inc. TXN-Q rallied from US$93.11 in 2020 to US$202.26 in 2021 (A-B) and then settled in a large horizontal trading range mostly between US$145 and US$187 for about two years (dashed lines). The recent rise above this range signaled a breakout and the start of a new up-leg (C).
Behaviour indicators including the rising 40-week Moving Average (40wMA) confirm the bullish status. A minor correction toward $185-190 would provide a good entry level. Only a sustained decline below the 40wMA (currently near US$175) would be negative.
Point & Figure measurements provide targets of US$225 and US$250. The large trading range supports higher targets.
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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com