Texas Instruments Inc: Will TXN Stock Price Breakdown To $161?

• Texas Instruments Inc. (NASDAQ:  TXN) price prediction points at the range-bound market
• TXN stock recorded a growth of 20% in the last one year
• TXN stock is forming a rising wedge pattern in the short term

Texas Instruments Inc.’s (NASDAQ: TXN) price prediction highlights the range-bound market, in which the price has been moving since November 2022. The TXN Stock price bounces between the support and resistance levels of $186.12 and $161.14. The price made its swing high at the resistance in March 2023 and made its way down to the support of $161.14. It was succeeded by a bullish recovery of 14.29%  at the price of $183.12.

At the time of writing, Texas Instruments Inc. closed its trading session on Thursday, 13th July 2023 at $183.12. The market closed with an increase of 0.41% over the prior day.

Can Texas Instruments Inc. Finally Break the Resistance of $186?

Texas Instruments Inc.’s stock price prediction shows that the price has been moving sideways for the past few months. This may be troubling for long-term investors, but it has been a playground for swing traders. The TXN Stock price moves back and forth off the 200 EMA, which has been flat since the beginning of this consolidation.

Currently, the bulls have pulled the price from support and made a bullish swing of 14.85% to its current market price. At present, the price is trading above the 200 EMA while riding the wave of the 9 and 15 EMAs. This means that the sellers are in control in the short term.

Will the Market Breakdown Out of the Rising Wedge Pattern?

On the 4-hour chart, the price is forming a rising wedge pattern on its way up. The TXN stock broke the local resistance of $180. The volume is declining with the rising price. Also, the RSI value declines as the market makes higher highs. These are signs of divergence, which hints at a possible reversal.

Judging from the past, the market is more likely to reverse from resistance and start a journey to test support. A reversal can be confirmed with the breakdown of the rising wedge pattern. However, the price is bullish in the short term, and investors should also consider a breakout of the resistance.

RSI

 The RSI indicator is currently at 62.79. This highlights the strength of the market and suggests that the prices are more likely to move up.

MACD

 MACD made a bullish crossover above the 0 line. This is a buy signal which indicates that the prices are expected to move up in the short term

200 EMA

 On the 4-hour chart, the price is trading above the 200 EMA. It indicates that the market is under buy pressure and the bulls are in control. The 200 EMA will act as significant support. The TXN stock price will continue to move up until it breaks below the indicator.

Conclusion

Texas Instruments Inc.’s (NASDAQ: TXN) price prediction highlights the range-bound market, in which the price has been moving since November 2022. This market is perfect for short-term investors and swing traders who can make predictable decisions at the support and resistance levels. The short-term trend is bullish, while the overall trend is sideways. Investors are advised to handle this situation with proper risk management.

Technical Levels 

• The nearest support level: $180
• The nearest resistance level: $186.12

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.