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

Peter Mathers TradingLounge

TXN Elliott Wave technical analysis – Daily chart

Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave (3) of 5.
Direction: Upside in wave (3).
Details: TXN is continuing higher within Primary Wave 5, following the largest correction seen since late 2023. The stock is in an impulsive uptrend, suggesting further bullish momentum as wave (3) unfolds.

TXN Elliott Wave technical analysis – One-hour chart

Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {i} of 1.
Direction: Top in wave {i}.
Details: The most recent uptrend from the $176 low appears to be in a corrective phase above $200. We anticipate a pullback toward the $200 area as part of wave {ii}, before resuming a bullish continuation.

TXN Elliott Wave overview

Daily chart: TXN remains in an impulsive bullish structure, progressing through wave (3) of Primary Wave 5. Following a significant correction in 2023, the stock is poised for further upside.
One-hour chart: TXN is forming wave (iv) above $200, with a potential pullback into wave {ii} before the next bullish leg higher.

Texas Instruments (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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