Boeing Co.: wave analysis
04 April 2018, 09:34
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 330.88 |
| Take Profit | 276.34 |
| Stop Loss | 346.05 |
| Key Levels | 276.34, 371.30, 390.00, 400.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 371.40 |
| Take Profit | 390.00, 400.00 |
| Stop Loss | 365.20 |
| Key Levels | 276.34, 371.30, 390.00, 400.00 |
The downward correction continues.
On the 4-hour chart, the upward momentum is forming within the third wave of the higher level (3). Now the third wave 3 of (3) has formed, and the downward correction is forming as a fourth wave 4 of (3). If the assumption is correct, the price will fall to the level of 276.34. The level of 371.30 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 371.30 with the target at 276.34.
Alternative scenario
The breakout and the consolidation of the price above the level of 371.30 will let the price grow to the levels of 390.00–400.00.
On the 4-hour chart, the upward momentum is forming within the third wave of the higher level (3). Now the third wave 3 of (3) has formed, and the downward correction is forming as a fourth wave 4 of (3). If the assumption is correct, the price will fall to the level of 276.34. The level of 371.30 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 371.30 with the target at 276.34.
Alternative scenario
The breakout and the consolidation of the price above the level of 371.30 will let the price grow to the levels of 390.00–400.00.
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