TJX Elliott Wave Analysis Trading Lounge Daily Chart,

The TJX Companies Inc., (TJX) Daily Chart

TJX Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Minute wave {v}.

DIRECTION: Upside in Minute {v}.  

DETAILS: Looking for a bottom in wave {iv} in place to then continue higher.  Equality of {v} vs. {i} stands at 108$.

(Click on image to enlarge)

TJX Elliott Wave Analysis Trading Lounge 4Hr Chart

The TJX Companies Inc., (TJX) 4Hr Chart

TJX Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (i) of {v}.

DIRECTION: Upside in wave (iii).

DETAILS: Looking for a CTLP on 100$, we need to break (b) to then start thinking about longs.  

(Click on image to enlarge)

Our detailed Elliott Wave analysis for The TJX Companies Inc. (TJX) as of May 7, 2024, offers insightful perspectives on potential movements for both daily and 4-hour trading charts. This analysis aims to assist traders and investors in identifying strategic positions in line with the predicted trends in TJX's stock prices.

* TJX Elliott Wave Technical Analysis – Daily Chart*

On the daily chart, TJX is currently exhibiting an impulsive, motive wave pattern, specifically within Minute wave {v}. This wave is crucial as it suggests a continued upward momentum following the establishment of a bottom in wave {iv}. The target for equality between wave {v} and wave {i} is projected at $108, indicating significant upside potential.

* TJX Elliott Wave Technical Analysis – 4Hr Chart*

Zooming into the 4-hour chart, TJX is progressing through Wave (i) of Minute {v}. The focus is on the upcoming wave (iii), which is known for its typically strong upward drive. A critical price point to monitor is the $100 level, where a conclusive break above the (b) wave high will validate bullish sentiments and open the door for positioning long trades.

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