TXN Elliott Wave technical analysis [Video]

Texas Instruments Inc. (TXN) – Elliott Wave analysis

TXN daily chart – Elliott Wave technical analysis.

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave {ii} of 1.

• Direction: Possible bottom in wave {ii}.

Analysis details:

TXN appears to have formed a significant bottom in wave (2). However, if the stock continues to move lower, there is a growing probability of a double correction in Intermediate wave (2). If the bottom holds, the next phase would be an upside move.

TXN one-hour chart – Elliott Wave technical analysis.

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave (c) of {ii}.

• Direction: Downside in wave (c).

Analysis details:

On the 1-hour chart, TXN shows signs of a potential bottom forming as wave (c) completes. The five-wave count in wave (c) aligns with wave (c) = wave (a), suggesting that wave {ii} could be nearing completion. If price action confirms, a reversal may be imminent.

Conclusion:

In this Elliott Wave analysis, we have assessed Texas Instruments (TXN) using both daily and 1-hour charts. TPrice ly chart suggests that wave {ii} may have reached a significant bottom, with the possibility of a double correction if the price trends lower. The 1-hour chart further supports this by showing wave (c) completion in line with expected price structure.

Traders should monitor price action for confirmation of an upside move before committing to new positions.

Technical analyst: Alessio Barretta.

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