Texas Instruments: bulls are in control, buying opportunity above 53.05

Texas Instruments, new bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2).

On the 29/01/2016 Texas Instruments close was at 52.93 (+3.52%). Marked a series of 4 consecutive higher highs. New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2), we suggest to watch today closing. The main trend is up on the daily chart, the bulls are in control. The value of many leading oscillators turns positive and indicates a new upward trend.
TEXAS INSTRUMENTS INC.

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 50.25). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Volumes
Daily chart shows volume is higher than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 29/01/2016.

Performance: 7 trading days= +6.22% – 15 trading days= +5.10% – 30 trading days= -8.85%

Resistance levels: R1= 53.58 – R2= 54.24 – R3= 56.19
Pivot Point: 52.29
Support levels: S1= 51.63 – S2= 50.34 – S3= 48.39


DAILY TRADING SIGNALS

Buying opportunity above 53.05, targets minor resistance at 53.70 and perhaps as far as strong resistance at 54.16, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 55.33.

Selling opportunity below 52.62, targets minor support at 51.97 and perhaps as far as strong support at 51.52, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 50.38.