Texas Instruments shares under pressure
Tuesday, October 23, 2007
Shares of Texas Instruments are very active today on focus after company reported an 11% jump in quarterly profit to $776 million, but missed expectations and forecast lower current-quarter sales than analysts were predicting. Early in the morning Caris & Company upgrades stock to "buy” from "Above Average". Looking at daily the chart, stock is currently trading in a short downtrend closing yesterday just some points above its 200 dma. Indicators are still showing some weakness in share price and investors confidence, such as RSI and MACD, so keep an eye today on TXN for a possible above $35 that could easily change this short term scenario.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
Labels: TXN
