Texas Instruments Inc

TXN remains in a Stage 4 medium-term decline despite a recent mean-reversion pivot. The long-term uptrend is intact above the 200-day SMA, but rallies into the 9/20 EMA and 50 SMA zone are likely to cap upside. We will trim into strength around those moving-average resistance areas rather than initiating fresh positions.

• ↑Q2 revenue $5.46B +22.8% YoY; EPS $2.14 beat estimates.
• ↑Data center sales surged 100% and automotive chips +15% YoY.
• ↓Earnings yield suggests valuation may not match growth expectations.