Seeking Alpha

TimerFrank's  Instablog

TimerFrank
Send Message
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
My blog:
Market Timing Pro
  • Bullish Pattern for Texas Instruments (NYSE: TXN) 0 comments
    Jan 10, 2012 3:38 PM | about stocks: TXN

    January 11, 2012

    Shares of the Texas Instruments (NYSE: TXN) have been in rally mode since reversing off support on December 19, 2011.

    This support level was the prior correction low established November 25 at $27.79.

    The current advance comes off a double bottom.

    TXN has also surpassed a declining trend resistance line on the daily chart. This line is drawn by connecting the closing highs at $31.79 on November 4 and then $30.67 on December 7. The current advance has closed decisively above this resistance line.

    In trading on Tuesday, January 10, TXN is up 1.3% and while the major indexes have pulled back from their midday highs, TXN is near its highs at the close.

    Strong support is at $28.00 a share.

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

     

Back To TimerFrank's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.