Welcome to our latest Elliott Wave analysis for Texas Instruments Inc. (TXN). This analysis provides an in-depth look at TXN's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on TXN's market behaviour.
TXN Elliott Wave Analysis Trading Lounge Daily Chart
Texas Instruments Inc., (TXN) Daily Chart Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Triangle
POSITION: Wave {iv}
DIRECTION: Bottom in wave {iv}
DETAILS: Looking for a triangle in wave {iv} of 3 as we have found resistance on TL2 at $200.
TXN Elliott Wave Technical Analysis
In our Elliott Wave analysis of Texas Instruments Inc. (TXN), we observe a counter-trend corrective pattern characterized by a triangle structure. TXN is currently positioned in wave {iv} of 3, suggesting a bottoming process in wave {iv}. The recent price action indicates that TXN has encountered resistance around the TL2 trendline at $200. This resistance could imply the formation of a triangle in wave {iv}, setting the stage for a potential resumption of the upward trend once the triangle completes. Traders should monitor the $200 level for signs of a breakout or further consolidation within the triangle.
TXN Elliott Wave Analysis Trading Lounge 4Hr Chart
Texas Instruments Inc., (TXN) 4Hr Chart Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Triangle
POSITION: Wave (e) of {iv}
DIRECTION: Bottom in (e)
DETAILS: Looking for wave (e) to be near completion to then resume higher and find support on top of $200.
TXN Elliott Wave Technical Analysis
On the 4-hour chart, TXN is following a counter-trend corrective mode within a triangle structure, specifically in wave (e) of {iv}. The current analysis suggests that wave (e) is nearing completion, which could signal the end of the triangle and the beginning of a move higher. The completion of wave (e) should ideally find support above the $200 level, aligning with the daily chart's indication of a possible upward resumption post-triangle. Traders should watch for the termination of wave (e) and the subsequent price action to confirm a bullish continuation.
Technical Analyst: Alessio Barretta
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