Altria Group Inc.: wave analysis
22 May 2018, 10:11
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 55.61 |
| Take Profit | 53.40, 45.90 |
| Stop Loss | 56.89 |
| Key Levels | 45.90, 53.40, 56.89, 64.80 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 56.95 |
| Take Profit | 64.80 |
| Stop Loss | 54.35 |
| Key Levels | 45.90, 53.40, 56.89, 64.80 |
The trend is downward.
A large downward correction is developing as a wave (2) of the higher level. Locally the third wave of the lower level iii of C of (2) is developing, within which the wave (v) of iii is forming. If the assumption is correct, the price will fall to the levels of 53.40–45.90. The level of 56.89 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 56.89 with the targets at 53.40–45.90. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 56.89 will let the price grow to the level of 64.80.
A large downward correction is developing as a wave (2) of the higher level. Locally the third wave of the lower level iii of C of (2) is developing, within which the wave (v) of iii is forming. If the assumption is correct, the price will fall to the levels of 53.40–45.90. The level of 56.89 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 56.89 with the targets at 53.40–45.90. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 56.89 will let the price grow to the level of 64.80.
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