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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 3
DIRECTION: Upside in Minor 3.  
DETAILS: Looking for at least equality of 3 vs. 1 as upside target, to eventually turn into an ABC in the worst of scenarios.
 
Stocks24.thumb.png.266645dcffc5329c557eb17510e9ebb1.png
 
 
TXN Elliott Wavse Analysis Trading Lounge 4Hr Chart,
Texas Instruments Inc.,  (TXN) 4Hr Chart
TXN Elliott Wave Technical Analysis
 
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave {ii} of 3.  
DIRECTION: Upside in {iii}.
DETAILS: Looking for acceleration in wave {iii}, with closing volume on Friday suggesting a bullish move to the upside.  
 
Stocks24(1).thumb.png.0f4fb92b578811a931cd4b0cdca875d4.png
 

This detailed Elliott Wave analysis focuses on Texas Instruments Incorporated (TXN) as observed in both the daily and 4-hour charts on May 6, 2024. Our analysis aims to provide investors and traders with actionable insights into the stock’s current trends and potential future movements.
 
 
*TXN Elliott Wave Technical Analysis – Daily Chart*
The daily chart for TXN reveals that the stock is currently in an impulsive, motive wave pattern, identified as Minor wave 3. This suggests a strong upward trend, indicating potential for significant
gains. The analysis targets at least equality between wave 3 and wave 1, pointing towards a robust upside potential. In less favorable scenarios, this movement might evolve into an ABC correction pattern, but the primary expectation remains bullish.
 
 
* TXN Elliott Wave Technical Analysis – 4H Chart*
Diving deeper into the 4-hour chart, TXN is positioned in Wave {ii} of Minor 3, forecasting an upcoming surge in Wave {iii}. The closing volume on the previous trading day (Friday) indicated a significant bullish sentiment, which aligns with expectations for an acceleration in Wave {iii}. This provides an excellent setup for traders looking to capitalize on the next upward move.
 
Technical Analyst Alessio Barretta
Source : Tradinglounge.com get trial here!
 
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