We conducted a detailed Elliott Wave analysis for Texas Instruments Inc. (Ticker: TXN), examining both its daily and 4-hour chart movements. This analysis aims to provide valuable insights into potential future price movements for traders and investors interested in TXN stock.

TXN Elliott Wave Analysis Trading Lounge Daily Chart,

Texas Instruments Inc., (TXN) Daily Chart

TXN Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Intermediate (1)

DIRECTION: Acceleration in wave 3.  

DETAILS: Looking for an upside in wave 3 as we seem to have had a shallow wave {c} of 2, potentially indicating a strong upward momentum.

TXN Elliott Wave Technical Analysis – Daily Chart

Texas Instruments Inc. is currently exhibiting a strong impulsive trend, characterized by a motive structure placed in Intermediate wave (1). The stock is anticipated to experience acceleration in wave 3 following a shallow wave {c} of 2. This suggests a robust upward momentum, signaling favorable conditions for bullish positions.

Texas-Instruments-In...


 

TXN Elliott Wave Analysis Trading Lounge 4Hr Chart,

Texas Instruments Inc., (TXN) 4Hr Chart

TXN Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave {i} of 3.

DIRECTION: Top in wave {i}.

DETAILS: Looking for a pullback in wave {ii} as we top in wave {i} to then look for additional longs, looking for 172$ to provide support.

TXN Elliott Wave Technical Analysis – 4Hr Chart

On the 4-hour chart, TXN's impulsive trend is further evident, with the stock positioned in Wave {i} of 3. As the stock approaches the top in wave {i}, a pullback is expected in wave {ii}. This corrective phase presents an opportunity for traders to consider additional long positions, with the key support level identified around $172.

Technical Analyst: Alessio Barretta

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

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