TXN , Texas Instruments

Just in case you bought the wrong one, here is the EW take on it;

txn dec 24 2012

Like all tech. stocks this one has been struggling for years to regain at least a portion of its 2000 losses. Looking for symmetry tells us that the stock could still work its way up to about $40 over the next two or so months. At that level it would have regained about 40% of those losses and have completed a nicely balanced A-B-C for the counter-trend rebound. After that it is probable on to about $10. Here is a more detailed look at the triangle in the C leg.

txn dec 24 2012 s

If it is a triangle (there are grounds for some concern, i.e. possible overlap) then wave e still has to form itself. It need not go all the way to the line but should in any event reach about $29. Should you buy it there do put in a stop at $26. Triangles can be deceptive, often they are not what you think and when they are not the most likely alternative is a series of 1-2s and the next thing is a waterfall down!. The risk /reward is still about 1 to 4.

TXN, Texas Instruments.

TXN

Texas Instruments is a model example of the B-wave, of which we have shown dozens and dozens on this website. This is the typical A – triangle B – C version that is so common.  It is not entirely perfect but if you look at the stylized depiction it is pretty clear.  The next, first targets for all of these patterns is is the B-wave level, in this case $22. It can go a lot further than that.