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

Peter Mathers TradingLounge

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]

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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