TJX Elliott Wave Analysis – TradingLounge Daily Chart
The TJX Companies Inc. (NYSE: TJX)
TJX Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {v} of 3
Direction: Upward movement into wave {v}
Details: A probable low in Minute wave {iv} appears to have formed slightly above the $110 level. The price action has resumed its upward trajectory, pointing to the likely initiation of wave {v} of 3. A sustained rally would further confirm the bullish Elliott Wave count and continuation of the uptrend.
TJX Elliott Wave Analysis – TradingLounge 1-Hour Chart
The TJX Companies Inc. (NYSE: TJX)
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (iii) of {v}
Direction: Upside continuation into wave (iii)
Details: Current price action suggests a wave ii pullback within wave (iii) of {v}, setting the stage for a potential strong upward push in wave (iii). The target zone for this next move is around $130, marking the anticipated completion of Minor degree wave MG1.
Technical Analyst: Alessio Barretta
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The TJX Companies Inc. (TJX) – Elliott Wave Market Outlook
Elliott Wave analysis of TJX (The TJX Companies Inc.) indicates a bullish structure developing on both the daily and 1-hour charts. On the daily timeframe, Minute wave {iv} seems to have bottomed just above $110, with recent price behavior supporting the start of wave {v} of 3. This aligns with expectations of continued upward momentum.
The 1-hour chart shows a wave ii retracement inside wave (iii) of {v}, implying a likely surge toward the $130 price level. Both charts highlight an impulsive wave formation, supporting a bullish trend in the near to mid-term.
Outlook: The bullish scenario remains intact if the current Elliott Wave count holds. Key price zones include support near $110 and resistance near $130, which will be crucial for validating the next move higher.