IBM Corp.: wave analysis
14 September 2017, 08:58
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 145.91 |
| Take Profit | 156.50 |
| Stop Loss | 142.36 |
| Key Levels | 136.00, 141.73, 156.50 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 141.65 |
| Take Profit | 136.00 |
| Stop Loss | 143.53 |
| Key Levels | 136.00, 141.73, 156.50 |
The growth of price is expected.
The downward momentum as a first wave 1 of (С) has formed. Locally the upward correction is developing as a wave 2, within which the wave a of 2 is forming. If the assumption is correct, the price will grow to the level of 156.50. The level of 141.73 is critical for this scenario.
Main scenario
Long positions can be opened during the correction, above the level of 141.73 with the target at 156.50.
Alternative scenario
The breakdown and the consolidation of the price below the level of 141.73 will let the price go down to the level of 136.00.
The downward momentum as a first wave 1 of (С) has formed. Locally the upward correction is developing as a wave 2, within which the wave a of 2 is forming. If the assumption is correct, the price will grow to the level of 156.50. The level of 141.73 is critical for this scenario.
Main scenario
Long positions can be opened during the correction, above the level of 141.73 with the target at 156.50.
Alternative scenario
The breakdown and the consolidation of the price below the level of 141.73 will let the price go down to the level of 136.00.
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