TXN Possible Retrace ZonesLets keep it simple. Wish I posted this chart last week, here is a few things to take note.
TXN had obvious sell signals in the beginning of June. We have been riding the top of the bolly band since the as well.
We have earnings coming up before august, and i love selloffs before earnings! Also you can see the ichicloud crossing bearish.
You can see the momentum is still bearish, but with a few buy signals on the smaller time frames, but im looking at the 4 hour with this one.
Could see a bounce at the 382, with a possible triple top at my sell zone, into a selloff for new years, which ill re evaluate the situation at that time.
If this fails, a stop loss around 94 would be safe, as the levels below that will have to be re evaluated.
Note that it could possibly bounce back to the 114$ area short term as of this exact day, but my strategy is a 6 month trade.
Happy Trading, debating and speculating! Be sure to check out my other charts!
