Short-term downside
TXN has run a bunch since earnings and the passage of the semis bill in congress. Now we're seeing a bunch of technical signs the stock is going to pull back.
I would expect the stock to mean revert (and possibly overcorrect to support) over the next week (maybe 2).
- Sitting at key resistance
- Local POC (since earnings) is closer to mean from SD regression channel
- MACD started to turn over
- Stock is overbought
- ATR is decreasing quickly
I would expect the stock to mean revert (and possibly overcorrect to support) over the next week (maybe 2).
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