Boeing Co.: wave analysis 01 February 2019, 08:38

Boeing Co.: wave analysis

01 February 2019, 08:38

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	385.49
Take Profit	410.00, 425.10
Stop Loss	361.50
Key Levels	321.00, 329.90, 353.88, 410.00, 425.10

Alternative scenario
Recommendation	SELL STOP
Entry Point	353.80
Take Profit	329.90, 321.00
Stop Loss	361.80
Key Levels	321.00, 329.90, 353.88, 410.00, 425.10

The price may grow.
On the 4-hour chart, a correction of the higher level formed as the fourth wave (4). Now the development of the fifth wave (5) has begun, within which the first entry wave of the lower level 1 of (5) is forming. If the assumption is correct, the price will grow to the levels of 410.00–425.10. In this scenario, critical stop loss level is 353.88.


Main scenario
Long positions will become relevant during the correction, above the level of 353.88 with the targets at 410.00–425.10. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 353.88 will let the price go down to the levels of 329.90–321.00.