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Actionable news in TXN: Texas Instruments Incorporated,

Deep in the Chart of Texas Instruments (TXN) Stock

NEW YORK (TheStreet) -- The first technology company you remember probably depends a great deal on your age -- sorry. I have gray hair and remember my first calculator from Texas Instruments (TXN - Get Report) . TXN has an interesting company history, but we're more concerned about its chart history.

The long-term chart of TXN, above, shows a very broad sideways trend for the stock. Rounding the numbers off a little, TXN was stuck in a $40 to $10 trading range for about 11 years. In 2012, TXN started to come alive and rally, eventually breaking out on the topside in late 2013. The advance stopped just a penny short of $60.

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After peaking in March of this year, chart above, TXN slowly corrected down to $44, just above the top of that long sideways base seen in the first chart. After touching $44, prices have improved. The On-Balance Volume line (OBV) has stopped declining, and the Moving Average Convergence Divergence oscillator is back to zero. Prices have rallied enough to close above the declining 40-day Moving...