08Aug

The TJX Companies Inc. (TJX) Stocks Elliott Wave Technical Analysis: Elliott Wave Insights and Predictions

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.

The-TJX-Companies-In...


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

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

See Previous: ABBV Elliott Wave Technical Analysis 

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