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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Bullish Pennant Pattern for Texas Instruments (NYSE: TXN)  0 comments
    Nov 14, 2011 4:27 PM | about stocks: TXN

    November 15, 2011

    Shares of Texas Instruments (NYSE: TXN) appear to be trading in a bullish pennant pattern on the daily chart. Three rallies ended at lower highs and two declines ended at higher lows since late October.

    This comes after a solid rally lifted shares some 26% from its September lows.

    TXN will eventually break out of this pattern and typically such patterns break in the direction of the previous trend. In this case the trend was to the upside from early September

    TXN is right at the 81.8% retracement level ($31.59) for the entire April to September decline.

    If TXN can make a decisive break above $31.59, look for a potential run for the prior highs up at $36.00 a share.

    The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in Texas Instruments (NYSE: TXN).


    Stocks: TXN
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