Texas Instruments Inc. (TXN) Elliott Wave technical analysis [Video]

TXN Elliott Wave Analysis Trading Lounge.

Texas Instruments Inc. (TXN) Daily Chart.

TXN Elliott Wave technical analysis

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave 4.

• Direction: Upside in wave 5.

Details:

The chart suggests that TXN is currently in the final stages of a triangle pattern within wave 4. As wave 3 previously achieved equality with wave 1, an extension in wave 5 is anticipated. The breakout from this triangle formation is expected to push the price higher, marking the beginning of wave 5.

Texas Instruments Inc. (TXN) 1H Chart.

TXN Elliott Wave technical analysis

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Bottom in wave {e}.

• Direction: Upside in wave {i}.

Details:

The 1-hour chart suggests that TXN has likely completed its correction with wave {e} marking the end of wave 4. The price is now advancing within wave {i}, specifically in wave (iii) of {i}, indicating a resumption of upward momentum. This movement signifies the beginning of the expected wave 5 rally.

Overview of TXN’s Elliott Wave analysis

In this Elliott Wave analysis, both the daily and 1-hour charts suggest an ongoing bullish trend for Texas Instruments Inc. (TXN).

Key Insights from the daily chart:

• Wave 4 is forming a triangle pattern, indicating a consolidation phase.

• A breakout into wave 5 is expected, potentially driving the price higher.

• Wave 3's equality with wave 1 implies a possible extension in the upcoming wave 5.

Key Insights from the one-hour chart:

• The correction appears to have completed with wave {e}.

• The price is advancing in wave {i}, specifically within wave (iii) of {i}, suggesting renewed upward momentum.

• This movement signals the early phase of the wave 5 rally.

Technical analyst: Alessio Barretta.

TXN Elliott Wave technical analysis [Video]