here’s the updated TXN daily. i mentioned it yesterday as offering, yet again, another objective short entry on a push back to resistance. this is the third short entry posted at this level and again, the first target remains T1 with stops above support/entry. this is a perfect example of how some stocks can be traded both long and short at the top and bottom of a range, whether horizontal or a rising or falling channel. also keep in mind that sooner than later, TXN is likely to break out of this recent trading range, as stocks usually build up energy for a breakout when consolidation in a range like this. therefore, TXN should be a good long, if that break occurs to the upside, or should quickly fall to T2 on a downside break of T1. my best guess is that if this current short trade does play out and TXN falls back to T1 again, then T1 will likely not hold this time around as a stock can only knock on support or resistance so many times before breaking it.
