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.

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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.

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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 1H 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.

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