IBM Corp.: wave analysis
02 April 2018, 09:33
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 153.46 |
| Take Profit | 144.50, 138.84 |
| Stop Loss | 156.45 |
| Key Levels | 138.84, 144.50, 154.87, 162.12 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 154.90 |
| Take Profit | 162.12 |
| Stop Loss | 152.50 |
| Key Levels | 138.84, 144.50, 154.87, 162.12 |
The price can decrease.
On the 4-hour chart, the third wave of the higher level (3) of (C) is forming. Locally the upward correction of the lower level 2 of (3) has ended, and the “bearish” momentum is forming as a wave i of (3). If the assumption is correct, the price will fall to the levels of 144.50–138.84. The level of 154.87 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 154.87 with the targets at 144.50–138.84.
Alternative scenario
The breakout and the consolidation of the price above the level of 154.87 will let the price grow to the level of 162.12.
On the 4-hour chart, the third wave of the higher level (3) of (C) is forming. Locally the upward correction of the lower level 2 of (3) has ended, and the “bearish” momentum is forming as a wave i of (3). If the assumption is correct, the price will fall to the levels of 144.50–138.84. The level of 154.87 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 154.87 with the targets at 144.50–138.84.
Alternative scenario
The breakout and the consolidation of the price above the level of 154.87 will let the price grow to the level of 162.12.
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