American Express Co.: wave analysis
04 April 2018, 09:31
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 92.76 |
| Take Profit | 108.00 |
| Stop Loss | 87.70 |
| Key Levels | 76.30, 82.44, 87.54, 108.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 87.50 |
| Take Profit | 82.44, 76.30 |
| Stop Loss | 89.20 |
| Key Levels | 76.30, 82.44, 87.54, 108.00 |
The correction has ended, the growth is expected.
On the 4-hour chart, the upward momentum is forming within the fifth wave of the higher level (5). Now the entering momentum of the lower level I has formed within the wave 5 of (5), and the downward correction has ended as a zigzag ii of 5. If the assumption is correct, the price will grow to the level of 108.00. The level of 87.54 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 87.54 with the target at 108.00.
Alternative scenario
The breakdown and the consolidation of the price below the level of 87.54 will let the price go down to the levels of 82.44–76.30.
On the 4-hour chart, the upward momentum is forming within the fifth wave of the higher level (5). Now the entering momentum of the lower level I has formed within the wave 5 of (5), and the downward correction has ended as a zigzag ii of 5. If the assumption is correct, the price will grow to the level of 108.00. The level of 87.54 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 87.54 with the target at 108.00.
Alternative scenario
The breakdown and the consolidation of the price below the level of 87.54 will let the price go down to the levels of 82.44–76.30.
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