Details: Moving as expected, looking for at least equality of 3 vs 1, as we could turn into an ABC and many times equality of C vs. A is a common target.

TXN Elliott Wave technical analysis – Daily chart

Texas Instruments (TXN) is moving as expected within the impulsive wave structure. We are looking for at least equality of wave 3 vs. wave 1. This movement could potentially turn into an ABC pattern, as equality of wave C vs. wave A is a common target in corrective waves.

TXN Elliott Wave four-hour chart

In the 4-hour chart, TXN is progressing within wave (v) of {iii}. Currently, the stock is at the equality level of wave {iii} vs. wave {i}. We are looking for this equality to turn into a support level, which would further confirm the bullish trend.

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Minute (iii) of {iii}.

Direction: Upside in {iii}.

Details: Looking for upside into wave (v) of {iii}, we seem to be at equality of {iii] vs. {i}, looking for equality to turn into support.

Discover the latest Elliott Wave analysis for Texas Instruments (TXN) as of May 17, 2024. Learn about key support and resistance levels, and potential price targets for TXN stock.

TXN Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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