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Texas Instruments Charts Show a Possible Inverse Head and Shoulders Pattern

Texas Instruments Charts Show a Possible Inverse Head and Shoulders Pattern

During Tuesday night's Mad Money program, Jim Cramer mentioned that Texas Instruments could benefit from a trade truce with China. In this daily bar chart of TXN, below, we can see that prices have stalled a number of times in the $118-$120 area - not just in the past 12 months but since early 2018 (see the weekly chart, below). Price-wise the daily chart looks strong but trading volume has been declining since January, however, the On-Balance-Volume (OBV) line has only stalled in the past two months.