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  • Swing Trade Idea (TXN) – April 04, 2023

    Apr 04, 2023 Swing Options Tips Comments Off on Swing Trade Idea (TXN) – April 04, 2023

    Our bearish trade for Tuesday, April 4th is Texas Instruments Incorporated (TXN). TXN is part of the Technology Sector, which shows signs of a pullback as it rallied into an area of resistance at $185.

    TXN recently rallied into an area of resistance at $185 to form a double top at a long-term resistance area. As it is entering an over-bought condition we believe that TXN will pullback over the period of this trade. This provides a good risk/reward bearish entry. 

    As a close, if TXN were to trade above $188 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We also will consider cutting losses on this options trade if the value of the vertical spread moves below $1.90.

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