Texas Instruments is forming a huge inverse H&S, $120 neckline.TEXAS INSTRUMENTS INC. NASDAQ ($TXN). To look at the chart you would not associate it with a stock in the Semiconductor sector, after the declines in 2018 it has now rallied 30% from the lows and is hitting at the door of a major breakout. From a technical perspective the weekly chart has developed what appears to be a inverse H&S in conjunction with the RSI. The remaining indicators are setting up bullish with the exception of the Momentum indicator which is a worry as it lags as does the volume profile.
So as to get a breakout there needs to be a serious increase in volume to cross the $120 neckline and maintain a rally to the $140 level.
AVERAGE ANALYSTS PRICE TARGET $116
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 21
SHORT INTEREST 2%
COMPANY PROFILE
Texas Instruments Incorporated engages in the design and manufacture semiconductor solutions for analog and digital embedded and application processing. It operates through the following two segments: Analog & Embedded Processing. The Analog segment semiconductors change real-world signals such as sound, temperature, pressure or images, by conditioning them, amplifying them and often converting them to a stream of digital data that can be processed by other semiconductors, such as embedded processors. The Embedded Processing segment designed to handle specific tasks and can be optimized for various combinations of performance, power and cost, depending on the application. The company was founded by Cecil H. Green, Patrick Eugene Haggerty, John Erik Jonsson and Eugene McDermott in 1930and is headquartered in Dallas, TX.
