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Texas Instruments Is Headed Higher

Shares of Texas Instruments (TXN) closed at fresh 2016 highs on Monday. This was the eighth straight higher low for the semiconductor giant, a run that has carried Texas Instruments stock more than 9% higher. As last week came to a close, the stock moved past the early-2016 peak set back in July. On Monday, Texas Instruments extended the rally even further and has now left behind a very important base.

On July 26, Texas Instruments stock exploded to the upside with the help of a huge earnings-inspired breakout gap. The...