Texas Instruments Inc. (TXN) Elliott Wave technical analysis [Video]
|TXN Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave (C) of B.
Direction: Upside in wave (C).
Details: This analysis outlines a bearish scenario with a completed three-wave move forming Primary wave A to the downside, followed by an upward correction forming Primary wave B.
TXN Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {iii} of 5.
Direction: Upside in wave {iii}.
Details: The bullish count highlights an ongoing move in Minor wave 5, with price currently pushing higher in wave {iii}, approaching the resistance near Trading Level 2 at $200.
In this Elliott Wave update for Texas Instruments Inc. (TXN), both daily and hourly charts offer insights into the current technical setup and potential price direction.
TXN Elliott Wave technical analysis – Daily chart
The daily structure points to a corrective wave count. After completing a three-part decline forming Primary wave A, TXN appears to be entering Primary wave B. This phase is developing through an upward movement in Intermediate wave (C), aligning with a flat corrective formation.
TXN Elliott Wave technical analysis – One-hour chart
On the 1-hour chart, the bullish narrative dominates. Minor wave 5 is underway, with wave {iii} driving the current trend higher. Traders should watch closely as price nears the $200 resistance at TradingLevel2, which may serve as a short-term technical ceiling.
Texas Instruments Inc. (TXN) Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.