Analyst Observations | Nasdaq Dorsey Wright

Comment includes: CE, TLN, and TXN.

CE Celanese Corporation ($49.94) - Chemicals - CE returned to a buy signal Tuesday when it broke a spread quadruple top at $50, taking out resistance that had been in place since July. The outlook for the stock remains negative, however, as CE is a 0 for 5'er. From here, initial support lies at $43.

TLN Talen Energy Corp ($358.12) - Utilities/Electricity - TLN reversed into Xs and returned to a buy signal at $360 as shares rallied to $364 intraday following earnings. The move also penetrates the bearish resistance line, which will flip the trend back to positive and increase the stock up to a 4 for 5'er in technical attribute rating. Okay to consider here on the breakout. Note the prior rally high at $388 from October, while initial support can be found at $332.

TXN Texas Instruments Incorporated ($313.11) - Semiconductors - Shares of TXM pushed higher on Tuesday, breaking a spread triple top at $316 for its third consecutive buy signal. The name has held up well relative to its peers recently, and it is now within striking distance of becoming (if not already) a 4 for 5'er by regaining near-term market relative strength with today's action. That said, the name is in heavily overbought territory, so it could pullback or consolidate in the near-term. Initial support lies at $296 then $276 (with the bullish support line also there)

REPORT

DATE