Texas Instruments (TXN)

Texas Instruments (TXN) reported on Tuesday evening. The firm reported a GAAP EPS that beat by a dime and revenue generation that just beat expectations but reflected a year over year contraction of 8.4%. The firm also issued current quarter guidance for profitability and revenues that took the high end of the range below Wall Street's consensus view. Yet the stock is up more than 3% this morning. Better than feared? Maybe.

I have never hear of a quadruple top pattern? Above? That's a basing period of consolidation with a $215 pivot that you're looking at. Does a rally up to $201-ish do much technically? You will see that 200-day SMA at $203 and that 21-day EMA at $201. Those are the levels TXN will need to bring swing traders over the wall and to have portfolio managers increase long-side exposure.

For now, this is just trading.