Texas Instruments turns early losses into gains - Analysis - 28-04-2022

Texas Instruments Incorporated' stock declined 0.56% in the last session, hitting record lows at 160.50, while settling at 169.39, with trading volumes averaging 12.5 million shares.

The chipmaker cautioned that Covid 19 restrictions in China will impact manufacturing supply lines for the company. 

The stock was dominated by the downward correctional trend in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.

Therefore we expect the stock to decline and target the support of 142.35, provided the support of 161.04 was breached.

Expected trend for today: Bearish