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The TJX Companies Inc.(TJX) Stocks Elliott Wave Technical Analysis


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TJX Elliott Wave Analysis Trading Lounge Daily Chart,
The TJX Companies Inc., (TJX) Daily Chart
TJX Elliott Wave Technical Analysis
 
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Minute wave {v}.
DIRECTION: Upside in Minute {v}.  
DETAILS: Looking for a bottom in wave {iv} in place to then continue higher.  Equality of {v} vs. {i} stands at 108$.
 
Stocks24.thumb.png.fc37f14d52d55b343cf2c24bcfb1cdc4.png
 
 
TJX Elliott Wave Analysis Trading Lounge 4Hr Chart
The TJX Companies Inc., (TJX) 4Hr Chart
TJX Elliott Wave Technical Analysis
 
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave (i) of {v}.
DIRECTION: Upside in wave (iii).
DETAILS: Looking for a CTLP on 100$, we need to break (b) to then start thinking about longs.  
 
Stocks24(1).thumb.png.e5d55c3a98802e0f36ee832fa1b282fe.png
 
 
Our detailed Elliott Wave analysis for The TJX Companies Inc. (TJX) as of May 7, 2024, offers insightful perspectives on potential movements for both daily and 4-hour trading charts. This analysis aims to assist traders and investors in identifying strategic positions in line with the predicted trends in TJX's stock prices.
 
 
* TJX Elliott Wave Technical Analysis – Daily Chart*
On the daily chart, TJX is currently exhibiting an impulsive, motive wave pattern, specifically within Minute wave {v}. This wave is crucial as it suggests a continued upward momentum following the establishment of a bottom in wave {iv}. The target for equality between wave {v} and wave {i} is projected at $108, indicating significant upside potential.
* TJX Elliott Wave Technical Analysis – 4Hr Chart*
Zooming into the 4-hour chart, TJX is progressing through Wave (i) of Minute {v}. The focus is on the upcoming wave (iii), which is known for its typically strong upward drive. A critical price point to monitor is the $100 level, where a conclusive break above the (b) wave high will validate bullish sentiments and open the door for positioning long trades.
 
Technical Analyst Alessio Barretta
Source : Tradinglounge.com get trial here!
 
 
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