Altria Group Inc.: wave analysis
21 August 2018, 10:05
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 60.97 |
| Take Profit | 63.30, 64.73 |
| Stop Loss | 58.65, 58.42 |
| Key Levels | 53.90, 55.16, 58.42, 63.30, 64.73 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 58.35 |
| Take Profit | 55.16, 53.90 |
| Stop Loss | 59.40 |
| Key Levels | 53.90, 55.16, 58.42, 63.30, 64.73 |
The price can grow.
On the 4-hour chart, the large downward correction developed as a wave (2) of the higher level, ending with the truncation within the fifth wave v of C of (2). Now the development of the wave (3) has begun, within which the first entry wave of the lower level i of 1 of (3) is forming. If the assumption is correct, the price will grow to the levels of 63.30–64.73. The level of 58.42 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 58.42 with the target at 63.30–64.73. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 58.42 will let the price go down to the levels of 55.16–53.90.
On the 4-hour chart, the large downward correction developed as a wave (2) of the higher level, ending with the truncation within the fifth wave v of C of (2). Now the development of the wave (3) has begun, within which the first entry wave of the lower level i of 1 of (3) is forming. If the assumption is correct, the price will grow to the levels of 63.30–64.73. The level of 58.42 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 58.42 with the target at 63.30–64.73. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 58.42 will let the price go down to the levels of 55.16–53.90.
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