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TXN Elliott Wave Analysis Trading Lounge Daily Chart, 18 March 2024

Texas Instruments Inc.,  (TXN) Daily Chart

TXN Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Minor wave 3.  

DIRECTION: Upside into wave 3.  

DETAILS: We are witnessing a three wave move from the 200$ ATH which seems to be corrective in nature as well as complete. We are now looking at the possibility of the resumption of the uptrend within Primary wave 5.

TXN Elliott Wave Analysis Trading Lounge 4Hr Chart, 18 March 2024

Texas Instruments Inc., (TXN) 4Hr Chart

TXN Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (i) of {iii}.

DIRECTION: Upside into Minute wave {iii}.

DETAILS: Looking for a three wave move into wave {ii} to now resume higher into wave {iii}. As we have taken the top of wave 1 out, we can have a stronger conviction of the overall upside resumption.

Welcome to our TXN Elliott Wave Analysis Trading Lounge, where we provide in-depth insights into Texas Instruments Inc. (TXN) using Elliott Wave Technical Analysis. Let's explore the market dynamics as of the Daily Chart on 18th March 2024.

* TXN Elliott Wave Technical Analysis – Daily Chart*

Our analysis identifies a trending function characterized by impulsive mode and motive structure, positioned in Minor wave 3. The direction is on the upside into wave 3. We've observed a corrective three-wave move from the $200 all-time high (ATH), which appears to be complete. Now, our focus shifts to the possibility of the uptrend resuming within Primary wave 5.

* TXN Elliott Wave Technical Analysis – 4Hr Chart*

Here, we also identify a trending function marked by impulsive mode and motive structure, positioned in Wave (i) of {iii}. The direction is on the upside into Minute wave {iii}. We anticipate a three-wave move into wave {ii} followed by a resumption higher into wave {iii}. With the top of wave 1 taken out, we have increased conviction regarding the overall upside resumption.

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