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 – 1H 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

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