TXN , Texas Instruments

Just in case you bought the wrong one, here is the 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.