IBM Corp.: wave analysis
07 May 2018, 09:38
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 143.87 |
| Take Profit | 135.00, 128.50 |
| Stop Loss | 147.36 |
| Key Levels | 128.50, 135.00, 147.36, 153.20 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 147.45 |
| Take Profit | 153.20 |
| Stop Loss | 145.55 |
| Key Levels | 128.50, 135.00, 147.36, 153.20 |
The trend is downward.
On the 4-hour chart, the third wave of the higher level (3) of (C) is forming. Locally the third wave of the lower level iii of 3 is developing, within which the wave (iii) is forming. If the assumption is correct, the price will fall to the levels of 135.00–128.50. The level of 147.36 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 147.36 with the targets at 135.00–128.50. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 147.36 will let the price grow to the level of 153.20.
On the 4-hour chart, the third wave of the higher level (3) of (C) is forming. Locally the third wave of the lower level iii of 3 is developing, within which the wave (iii) is forming. If the assumption is correct, the price will fall to the levels of 135.00–128.50. The level of 147.36 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 147.36 with the targets at 135.00–128.50. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 147.36 will let the price grow to the level of 153.20.
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