TJX Elliott Wave Analysis Trading Lounge Daily Chart
Welcome to our latest Elliott Wave analysis for The TJX Companies Inc. (TJX). This analysis provides an in-depth look at TJX'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 TJX's market behavior.
The TJX Companies Inc. (TJX) Daily Chart
TJX Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {v} of 3
Direction: Top in wave {v}
Details: We are looking for further upside into wave {v}, while being aware that a top in wave {v} might already be in place. If this is the case, we are likely entering a deeper correction in Minor wave 4.
TJX Elliott Wave Technical Analysis – Daily Chart
We are looking for further upside into wave {v}, acknowledging the possibility that a top in wave {v} might already be in place. This scenario would imply an imminent deeper correction in Minor wave 4. Traders should be cautious and watch for signs of a potential top forming.
TJX Elliott Wave Analysis Trading Lounge 4H Chart
The TJX Companies Inc. (TJX) 4H Chart
TJX Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Subminuette wave c
Direction: Bottom in wave c
Details: Anticipating one more leg lower into wave c, with volume analysis suggesting that buyers may be entering the market, potentially forming a bottom in wave c.
TJX Elliott Wave Technical Analysis – 4H Chart
The 4-hour chart indicates the potential for one more leg lower into wave c. Volume analysis suggests that buyers may be entering the market, which could signify a bottom forming in wave c. This would align with the anticipated completion of the corrective structure, leading to a resumption of the upward trend.
Technical Analyst: Alessio Barretta
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See Previous: ABBV Elliott Wave Technical Analysis
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