TJX Elliott Wave technical analysis [Video]

TJX Elliott Wave analysis – TradingLounge daily chart

The TJX Companies Inc. (TJX)

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave {v} of 3.

• Direction: Upside into wave {v}.

• Details: A potential bottom in Minute wave {iv} appears to be in place just above $110. The price has resumed moving upward, indicating a possible start of wave {v} of 3. A continued move higher would confirm the bullish outlook.

TJX Elliott Wave analysis – TradingLounge 1H chart

The TJX Companies Inc. (TJX)

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave (iii) of {v}.

• Direction: Upside into wave (iii).

• Details: The stock seems to be pulling back in wave ii of (iii), possibly setting up a sharp upward move in wave (iii) toward the 130$ target area (end of MG1).

The TJX Companies Inc. (TJX) Elliott Wave Analysis

The analysis of The TJX Companies Inc. (TJX) reveals a bullish Elliott Wave setup across both the daily and 1-hour charts. On the daily chart, a possible bottom in Minute wave {iv} has formed just above $110, with upward movement suggesting the beginning of wave {v} of 3. This indicates a potential continuation of the current uptrend.

On the 1-hour chart, TJX appears to be in a wave ii pullback within wave (iii) of {v}, which could lead to a strong rally toward the $130 level. Both timeframes support an ongoing impulsive structure, reinforcing a bullish bias in the short to medium term.

Outlook: Continued upside expected if wave structures hold, with key levels to monitor for validation of the bullish count.

Analyst: Alessio Barretta.

TJX Elliott Wave analysis – TradingLounge daily chart [Video]