Texas Instruments $TXN has been bullish since forming a double bottom at the end of 2018. The rally maintained a bullish-neutral mode as opposed to a bearish one. The chart tells us that the prevailing trend has been bullish. Thus, after a period of consolidation, I think there is more likelihood for a bullish continuation than further bearish correction. A hold above $100 would be a sign that TXN is still in long-term bullish mode even if it is still in consolidation mode in the short-term.TXN Daily Chart(click to enlarge)Consolidation in a Bullish Market:- The daily chart above shows TXN in a period of consolidation under the $120 level.- Price broke below $97.60 in October 2018, and that was a sign of further bearish correction.- However, after completing a double bottom above $87.50, price rebounded almost back to the $120 level in late April 2019. - The recovery to this high suggests that TXN has put in a bottom for its recent consolidation range at $87.50. - However, I don't think price will necessarily get back to those lows.- Instead, because TXN has prevented further bearish correction, it has some bullish bias within this consolidation period.- Therefore, the $100 anchor will likely hold. We already saw a rebound from the $103.80 support area up to $107.50 during the 5/20-5/21 sessions.$100 Support:- But let's say we see some further risk aversion in the short-term.- I would love to take a stab at TXN at $100 with a stop around $93. - Even if the upside is limited to $120, this trade would offer almost a 3:1 reward to risk ratio, with the potential of even more upside if price indeed holds above $100. - The weekly chart below shows us that TXN has a bullish price structure in the long-term. - 2018 was a year of consolidation, 2019 has been bullish, but could still be within the context of a sideways consolidation, although it looks like bulls have a bit more control within the consolidation.- While a return to $90 is not out of the question for a period of consolidation, it is more likely that the market won't let price get down there in anticipation of bullish continuation.TXN Weekly Chart(click to enlarge)