The “Chart of the Day” is Texas Instruments (TXN), which showed up on Wednesday’s list of stocks that had a new “Buy” signal from the Barchart “TrendSpotter” trading system. TI on Wednesday rallied by 3.26% and posted a high of $36.55, thus matching the 3-1/2 year high originally posted on Feb 18. A decisive rally above that high would be a particularly bullish technical development. Wednesday’s rally was due to JP Morgan’s upgrade of Texas Instruments to Overweight from Neutral and the substantial hike in its price target to $44 from $27 based on JP Morgan’s opinion that the analog chip inventory correction is almost over and that TI should benefit from a second-half inventory replenishment. Texas Instruments, with a market cap of $41 billion, is a global semiconductor company and one of the world’s leading designers and suppliers of digital signal processors and analog integrated circuits.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “Trading Signals” page. That page provides a summary of changes in the Barchart signals. We then clicked on the TrendSpotter “Buy” category to obtain a list of all the stocks for which the Barchart TrendSpotter trading system has just turned to a buy. We then clicked on the “Today’s Opinion” column header in order to sort the list with the strongest stocks on top. Further information is available at Barchart Signals Guide help page and at TrendSpotter help page.
Barchart’s Opinion trading systems are mostly a Buy and Barchart’s daily TrendSpotter trading system is a “Buy.” Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- TrendSpotter: Buy
- Short-Term Indicators: 80% Buy
- Medium-Term Indicators: 75% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 88% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
