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: Wave 5 of (1).
DIRECTION: Upside in wave 5.
DETAILS: Looking for upside into Minor wave 4 as we seem to have taken off the lows of wave 4, after a clear three wave move. Considering wave 3 was longer than 1, we could expect wave 5 to reach the top of MG1 at 230$ or else even Medium Level at 250$.
TXN Elliott Wave Analysis Trading Lounge 1H Chart:
Texas Instruments Inc., (TXN) 1H Chart
TXN Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave {iii} of 5.
DIRECTION: Upside in wave {iii}.
DETAILS: Labelling we are in wave {iii} suggests a conservative approach to Minor wave 5. Nevertheless it looks like are extending higher and pullbacks to the downside look corrective in nature.
Welcome to our latest Elliott Wave analysis for Texas Instruments Inc. (TXN). This report delves into TXN's price action through the lens of Elliott Wave Theory, aiming to assist traders in identifying potential trading opportunities based on current market trends and wave structures. We will cover both the daily and 1-hour charts to provide a well-rounded perspective on TXN’s market behavior.
TXN appears to be advancing in the final wave 5 of the current cycle, following a three-wave corrective structure in wave 4. Given that wave 3 exceeded the length of wave 1, there is potential for wave 5 to extend towards significant resistance levels. The primary targets are the top of Minor Group 1 (MG1) at $230 and potentially further to the Medium Level at $250, depending on the strength of the upward momentum.
The labeling of wave {iii} suggests a methodical progression within Minor wave 5, as the stock continues to show signs of upward extension. The nature of the recent pullbacks, which appear corrective, supports the likelihood of continued bullish momentum. This wave structure implies further upside potential as TXN aims to complete wave {iii}, before eventually correcting in wave {iv} and resuming higher in wave {v}.
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD holds steady above 1.0500 ahead of FOMC Minutes
EUR/USD trades marginally higher on the day above 1.0500. The US Dollar struggles to preserve its strength amid a modest improvement seen in risk sentiment, helping EUR/USD hold its ground before the Fed publishes the minutes of the November policy meeting.
GBP/USD extends recovery, trades near 1.2600
GBP/USD extends its daily recovery toward 1.2600 in the European session on Tuesday, following a slump to the 1.2500 area in Asian trading. The pair finds footing as the US Dollar retreats with markets looking past Trump tariff threats, bracing for FOMC Minutes.
Gold price defends $2,600 ahead of FOMC minutes; not out of the woods yet
Gold price retains its negative bias for the second straight day but manages to hold comfortably above $2,600. The growing conviction that Donald Trump's expansionary policies will reignite inflation and limit the scope for the Fed to cut interest rates further triggers a fresh leg up in the US Treasury bond yields.
Trump shakes up markets again with “day one” tariff threats against CA, MX, CN
Pres-elect Trump reprised the ability from his first term to change the course of markets with a single post – this time from his Truth Social network; Threatening 25% tariffs "on Day One" against Mexico and Canada, and an additional 10% against China.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.