TXN closes within previous day's range after lackluster session
Texas Instruments Incorporated (TXN) Technical Analysis Report for Apr 16, 2019 | by Techniquant Editorial Team
TXN finished Tuesday at 116.37 gaining $1.28 (1.11%), outperforming the Nasdaq 100 (0.34%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session.
Daily Candlestick Chart (TXN as at Apr 16, 2019):
Tuesday's trading range has been $1.22 (1.05%), that's far below the last trading month's daily average range of $2.08. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for TXN.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 117.37 where further buy stops might get triggered. 2018's high at 120.75 is within reach and we could see further upside momentum should the share manage to break out beyond.