US Markets
Home›US Markets›Equities›Texas Instruments shares extend bounce after holding $…
Texas Instruments shares extend bounce after holding $280 support
The stock was up 3.5% to $294.04, with year to date performance at 69.2%.
Texas Instruments shares were last seen up 3.5% at $294.04, extending a bounce off technical support near the $280 level, according to Yahoo Finance.
The report said the stock has traded choppily since its June 22 record high of $334.03, but remains in a technical setup that has appeared 16 times over the last decade. After similar setups, the stock was higher one month later 88% of the time, averaging a 6.4% gain.
Yahoo Finance cited Schaeffer's Senior Quantitative Analyst Rocky White, saying TXN is trading within 0.75 times the 80 day moving average's 20 day average true range, after spending at least 80% of the previous two weeks and 80% of the prior 42 trading sessions above that trendline.
The piece also pointed to sentiment signals in options markets, noting a 50 day put/call volume ratio of 0.75 across the International Securities Exchange, Cboe Options Exchange, and NASDAQ OMX PHLX that ranks higher than 85% of readings over the past year, alongside a Schaeffer's Volatility Scorecard of 99 out of 100. It added that among 35 analysts covering the stock, 18 have hold or worse ratings.
Latest closeNasdaq Comp. 25,837.21 ▲1.3%