28Nov

Comprehensive Elliott Wave Analysis of TJX Companies Inc. with Daily and 1-Hour Chart Insights and Stock Projections

Elliott Wave Analysis of The TJX Companies Inc. (TJX): A Detailed Overview of Current Trends and Forecasts

This Elliott Wave analysis of The TJX Companies Inc. (TJX) provides insights into both the daily and 1-hour chart structures, offering a comprehensive outlook on the prevailing trends and potential price trajectories.

TJX Elliott Wave Analysis - TradingLounge Daily Chart

TJX Companies Inc. (TJX) Daily Chart Overview

TJX Elliott Wave Technical Analysis: Key Details

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave {v} of 3 of (5)

Direction: Upside into wave 3

TJX Stock Technical Details:

  • Targeting an upside in wave {v} with projected equality of wave 3 vs. wave 1 at $126, nearing the end of MinorGroup1.

  • If bullish momentum persists, the next upside target is calculated at 1.618 times wave 1, positioning the price around $213.

TJX Daily Chart Insights

TJX is advancing within wave {v} of wave 3, part of the larger (5) wave structure. The stock is moving toward the completion of wave 3, with the equality of wave 3 vs. wave 1 suggesting a near-term target of $126, marking the end of MinorGroup1. If the upward momentum holds, the subsequent target at 1.618 times wave 1 would elevate the price potential to $213.

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TJX Elliott Wave Analysis - TradingLounge 1-Hour Chart

TJX Companies Inc. (TJX) 1-Hour Chart Overview

TJX Stock Technical Analysis: Key Details

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave (iii) of {v}

Direction: Upside in wave (iii)

TJX Technical Details:

  • Expecting further upside within wave (iii), as the five subwaves of this wave appear incomplete.

  • Continuation above $130 (the end of MinorGroup1) is anticipated during the completion of this impulsive wave.

TJX  1-Hour Chart Insights

On the 1-hour chart, TJX is progressing through wave (iii) of {v}, with further upside likely as the impulsive advance continues to unfold. The five subwaves within wave (iii) are incomplete, signaling potential movement above $130, which marks the endpoint of MinorGroup1.

Technical Analyst: Alessio Barretta

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: Chevron Inc. (CVX) Elliott Wave Technical Analysis

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Key Takeaways:

  • Daily Chart: Upside momentum targets $126, with extended potential to $213 based on wave projections.
  • 1-Hour Chart: Continuation above $130 expected as the impulsive pattern within wave (iii) develops further.

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