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To: Manx who wrote (8080)3/19/2000 9:10:00 PM
From: Jim Willie CB  Respond to of 35685
 
TA on Texas Instruments (TXN):

after this heat seeking missile found 200, it pulled back in the very typical two downlegs, which it did... first bounce off support at 170, second bounce at combo of 140 support and 30day Moving Avg

such rapid recoveries such as just happened are doomed usually in the shorterm, like quickly to 180

money flow has been pretty good lately, despite the selloff

relative strength bounced off middle 50 levels on this rebound last week

the daily stochastic indicator crossed over last week, accentuating the strong response

I suspect consolidation after the recovery
155-175 seems like a workable range for a while
buyers might consider targeting the lower end
sellers might consider targeting the upper end

/ Jim