Market News & Analysis

Top Story

Texas Instruments eyeing another new all-time high

Texas Instruments (TXN)

click to enlarge charts

Key Levels (1 to 3 weeks)

Pivot (key support): 124.50

Resistances: 130.92, 138.20/140.60 & 145.00

Next support: 114.10

Directional Bias (1 to 3 weeks)

Texas Instruments, a diversified semiconductor firm that supplies to a broad range of industries from automakers, telecommunications to consumer electronics and it is also the 2nd biggest weightage component stock in the PHLX Semiconductor Sector Index.

Its share price is now exhibiting positive technical elements where it may surge above its current all-time high level of 130.92 printed on 12 Sep 2019. Bullish bias above the 124.50 key medium-term pivotal support for a further potential up move to target the next resistance at 138.20/140.60 and a clearance above 140.60 sees a further rally towards 145.00 next.

On the other hand, a break with a daily close below 124.50 invalidates the impulsive up move scenario for a corrective decline to test a major support at 114.10 (also the ascending trendline from 24 Dec 2018 low).

Key elements

  • TXN has continued to evolve within a medium-term ascending channel in place since 29 May 2019 with the lower boundary of the ascending channel acting a support at 124.50.
  • The upper boundary of the aforementioned ascending channel stands at 145.00 which is also defined by a Fibonacci expansion cluster.
  • The daily RSI oscillator has managed to stage a rebound from a corresponding ascending support in place since 29 May 2019 low and the 50 level. This observation suggests a revival of medium-term upside momentum.
  • Relative strength analysis against the market (S&P 500) and its sector (Semiconductor) from the respective ratio charts are suggesting further potential outperformance of TXN.

Charts are from eSignal 


This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit for the complete Risk Disclosure Statement.

Important Notice:

Cryptocurrencies are not legal tender currency and trading of derivatives on Cryptocurrencies are currently not covered under any regulatory regime in Singapore. Consequently, investors should be aware they do not have protection under the Securities and Futures Act (Cap. 289). Please ensure that you are fully aware of the risks.