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Texas Instruments Inc. Elliott Wave Technical Analysis 18 March 24


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TXN Elliott Wave Analysis Trading Lounge Daily Chart, 18 March 24

Texas Instruments Inc.,  (TXN) Daily Chart

TXN Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Minor wave 3.  

DIRECTION: Upside into wave 3.  

DETAILS: We are witnessing a three wave move from the 200$ ATH which seems to be corrective in nature as well as complete. We are now looking at the possibility of the resumption of the uptrend within Primary wave 5.

 

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TXN Elliott Wave Analysis Trading Lounge 4Hr Chart, 18 March 24

Texas Instruments Inc., (TXN) 4Hr Chart

TXN Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (i) of {iii}.

DIRECTION: Upside into Minute wave {iii}.

DETAILS: Looking for a three wave move into wave {ii} to now resume higher into wave {iii}. As we have taken the top of wave 1 out, we can have a stronger conviction of the overall upside resumption.

 

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Welcome to our TXN Elliott Wave Analysis Trading Lounge, where we provide in-depth insights into Texas Instruments Inc. (TXN) using Elliott Wave Technical Analysis. Let's explore the market dynamics as of the Daily Chart on 18th March 2024.

* TXN Elliott Wave Technical Analysis – Daily Chart*

Our analysis identifies a trending function characterized by impulsive mode and motive structure, positioned in Minor wave 3. The direction is on the upside into wave 3. We've observed a corrective three-wave move from the $200 all-time high (ATH), which appears to be complete. Now, our focus shifts to the possibility of the uptrend resuming within Primary wave 5.

* TXN Elliott Wave Technical Analysis – 4Hr Chart*

Here, we also identify a trending function marked by impulsive mode and motive structure, positioned in Wave (i) of {iii}. The direction is on the upside into Minute wave {iii}. We anticipate a three-wave move into wave {ii} followed by a resumption higher into wave {iii}. With the top of wave 1 taken out, we have increased conviction regarding the overall upside resumption.

 

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