TJX Elliott Wave Analysis Trading Lounge.
The TJX Companies Inc., (TJX) Daily Chart.
TJX Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {v} of 3 of (5).
Direction: Upside into wave 3.
Details: Looking for upside into wave {v}, equality of 3 vs. 1 stands at 126$ therefore near the end of MinorGroup1. Next upside target would be 1.618 3 vs. 1 at 213$.
The TJX Companies Inc., (TJX) 1H Chart.
TJX Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave (iii) of {v}.
Direction: Upside in wave (iii).
Details: Looking for upside into wave (iii) as we seem yet to have completed five waves within wave (iii). Looking for continuation above the end of MG1 at 130$.
This Elliott Wave analysis of The TJX Companies Inc., (TJX) outlines both the daily and 1-hour chart structures, highlighting the current trends and possible future price movements.
TJX Elliott Wave technical analysis – Daily chart
TJX is advancing within wave {v} of wave 3 of the larger (5) wave structure. The price is pushing toward the completion of wave 3, with equality of wave 3 vs. wave 1 projected at $126, near the end of MinorGroup1. If the momentum continues, the next target would be 1.618 times wave 1, which would place the upside potential at $213.
TJX Elliott Wave technical analysis – One-hour chart
On the 1-hour chart, TJX is within wave (iii) of {v}, with upside still unfolding. We have not yet completed the five waves within wave (iii), so further continuation above $130 (the end of MinorGroup1) is expected as the stock completes its impulsive advance.
Technical analyst: Alessio Barretta.
TJX Elliott Wave technical analysis [Video]
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