Altria Group Inc.: wave analysis
03 April 2018, 09:40
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 62.34 |
| Take Profit | 66.65, 68.50 |
| Stop Loss | 60.90 |
| Key Levels | 53.40, 58.98, 66.65, 68.50 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 58.90 |
| Take Profit | 53.40 |
| Stop Loss | 60.75 |
| Key Levels | 53.40, 58.98, 66.65, 68.50 |
The downward correction has ended, the growth of the price is expected.
The development of the large downward correction as a wave (2) of the higher level has ended. Locally the development of the third wave (3), within which the entering momentum of the lower level has formed, is beginning. If the assumption is correct, the price will grow to the levels of 66.65–68.50. The level of 58.98 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 58.98 with the targets at 66.65–68.50.
Alternative scenario
The breakdown and the consolidation of the price below the level of 58.98 will let the price go down to the level of 53.40.
The development of the large downward correction as a wave (2) of the higher level has ended. Locally the development of the third wave (3), within which the entering momentum of the lower level has formed, is beginning. If the assumption is correct, the price will grow to the levels of 66.65–68.50. The level of 58.98 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 58.98 with the targets at 66.65–68.50.
Alternative scenario
The breakdown and the consolidation of the price below the level of 58.98 will let the price go down to the level of 53.40.
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