Texas Instruments Inc.(TXN) Stocks Elliott Wave Technical Analysis

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TXN Elliott Wave Analysis Trading Lounge Daily Chart,

Texas Instruments Inc., (TXN) Daily Chart

TXN Elliott Wave Technical Analysis

 

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION:  Minor wave 3

DIRECTION: Upside in wave 3.    

DETAILS: We are looking at either an extension in Minor wav 3 in the making, or else we are still in wave {b} of 2. The most bearish scenario is the one where the move off the 140$ bottom is not a wave 1 and we are still in a larger degree correction.

 

 

 

TXN Elliott Wave Analysis Trading Lounge 4Hr Chart,

Texas Instruments Inc., (TXN) 4Hr Chart

TXN Elliott Wave Technical Analysis

 

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Flat

POSITION: Wave {ii}  

DIRECTION: Bottom in wave (c) of {ii}.

DETAILS: We are looking at a clear three wave move in wave {ii} with a bottom soon to be in place, looking for the beginning of MGM2 at 165$ to provide support.

 

 

 

 

 

 

 

Welcome to our TXN Elliott Wave Analysis Trading Lounge, where we delve into Texas Instruments Inc. (TXN) using Elliott Wave Technical Analysis. Let's dissect the market dynamics on both the Daily Chart and the 4H Chart as of April 15, 2024.

* TXN Elliott Wave Technical Analysis – Daily Chart*

On the Daily Chart, our analysis reveals a trending market characterized by impulsive mode and motive structure, positioned in Minor wave 3. The direction indicates upside momentum in wave 3. However, we are considering two potential scenarios: either an extension in Minor wave 3 or still within wave {b} of 2. The most bearish scenario suggests that the move from the $140 bottom may not be a wave 1, implying a larger degree correction.

* TXN Elliott Wave Technical Analysis – 4hr Chart*

Here, we observe a counter trend market marked by corrective mode and flat structure, positioned in Wave {ii}. The direction hints at a bottom forming in wave (c) of {ii}. Our analysis identifies a clear three-wave move in wave {ii}, with a bottom expected soon. We anticipate support to emerge around the beginning of MGM2 at $165.

 

Technical Analyst : Alessio Barretta

 

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