Altria Group Inc.: wave analysis
15 September 2017, 08:48
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 62.13 |
| Take Profit | 58.00 |
| Stop Loss | 63.50 |
| Key Levels | 58.00, 64.40, 70.89 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 64.50 |
| Take Profit | 70.89 |
| Stop Loss | 62.35 |
| Key Levels | 58.00, 64.40, 70.89 |
The trend is downward.
The downward momentum within the begun large correction is developing as a wave А. Locally the fifth wave v of A, within which the third wave of the lower level (iii) of v is forming, is developing. If the assumption is correct, the price will fall to the level of 58.00. The level of 64.40 is critical for this scenario.
Main scenario
Short positions can be opened during the correction, below the level of 64.40 with the target at 58.00.
Alternative scenario
The breakout and the consolidation of the price above the level of 64.40 will let the price grow to the level of 70.89.
The downward momentum within the begun large correction is developing as a wave А. Locally the fifth wave v of A, within which the third wave of the lower level (iii) of v is forming, is developing. If the assumption is correct, the price will fall to the level of 58.00. The level of 64.40 is critical for this scenario.
Main scenario
Short positions can be opened during the correction, below the level of 64.40 with the target at 58.00.
Alternative scenario
The breakout and the consolidation of the price above the level of 64.40 will let the price grow to the level of 70.89.
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