Texas Instruments Inc.(TXN) Elliott Wave technical analysis [Video]

TXN Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Intermediate (1).

Direction: Acceleration in wave 3.  

Ddetails: Looking for upside in wave 3 as we seem to have had a shallow wave {c} of 2, potentially indicating a strong upward momentum.

TXN Elliott Wave technical analysis – Daily chart

Texas Instruments Inc. is currently exhibiting a strong impulsive trend, characterized by a motive structure placed in Intermediate wave (1). The stock is anticipated to experience acceleration in wave 3 following a shallow wave {c} of 2. This suggests a robust upward momentum, signaling favorable conditions for bullish positions.

TXN Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave {i} of 3.

Direction: Top in wave {i}.

Details: Looking for a pullback in wave {ii} as we top in wave {i} to then look for additional longs, looking for 172$ to provide support.

We conducted a detailed Elliott Wave analysis for Texas Instruments Inc. (Ticker: TXN), examining both its daily and 4-hour chart movements. This analysis aims to provide valuable insights into potential future price movements for traders and investors interested in TXN stock.

TXN Elliott Wave technical analysis – Four-hour chart

On the 4-hour chart, TXN's impulsive trend is further evident, with the stock positioned in Wave {i} of 3. As the stock approaches the top in wave {i}, a pullback is expected in wave {ii}. This corrective phase presents an opportunity for traders to consider additional long positions, with the key support level identified around $172.

TXN Elliott Wave technical analysis [Video]