Texas Instruments Inc (NASDAQ:TXN) is a leading chip stock that has been declining since late January 2018. At that time, the stock traded as high as $120.75 a share. Today, TXN stock is trading at $107.15 a share. Traders and investors should note that the stock is still holding its 50-week moving average around the $107.00 level. A weekly chart close below this key support level would indicate another decline is in store for the shares. The next major support level for TXN will be around the $100.00 area. This is where the stock was defended in April and will be the next major support level for the stock. I will be watching TXN closely at this level for a solid buying opportunity.