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Next Resistance Level for Texas Instruments (TXN) is $36.10

Published on Mon, 04/29/2013 - 12:41
By Adrienne Chilton

Shares of Texas Instruments (NYSE:TXN) opened today above their pivot of $35.71 and have already reached the first level of resistance at $35.92. Analysts will be watching for a cross of the next upside pivot targets of $36.10 and $36.49.

Over the past year, Texas Instruments has traded in a range of $26.06 to $36.26 and is now at $35.94, 38% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.6%.

Texas Instruments Incorporated is a global semiconductor company that designs and supplies analog technologies, digital signal processing (DSP) and microcontroller (MCU) semiconductors. The Company also operates materials and controls, and educational and productivity solutions businesses. Texas Instruments has manufacturing or sales operations in countries around the world.

Based on a current price of $35.94, Texas Instruments is currently 8.6% above its average consensus analyst price target of $32.87. The stock should discover initial support at its 50-day moving average (MA) of $34.78 and subsequent support at its 200-day MA of $30.94.

By Adrienne Chilton
achilton@fnno.com

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