IBM Corp.: wave analysis
20 August 2018, 09:47
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 145.14 |
| Take Profit | 155.70, 158.85 |
| Stop Loss | 142.08 |
| Key Levels | 137.26, 142.08, 155.70, 158.85 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 142.00 |
| Take Profit | 137.26 |
| Stop Loss | 143.60 |
| Key Levels | 137.26, 142.08, 155.70, 158.85 |
The price can grow.
On the 4-hour chart, the correctional wave (B) of the higher level developed. Now the development of the wave (C) of B has begun, within which the wave (i) of i of the lower level has formed, and the downward correction (ii) of I has ended. If the assumption is correct, the price will grow to the levels of 155.70–158.85 within the wave (iii) of i. The level of 142.08 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 142.08 with the targets at 155.70–158.85. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 142.08 will let the price go down to the level of 137.26.
On the 4-hour chart, the correctional wave (B) of the higher level developed. Now the development of the wave (C) of B has begun, within which the wave (i) of i of the lower level has formed, and the downward correction (ii) of I has ended. If the assumption is correct, the price will grow to the levels of 155.70–158.85 within the wave (iii) of i. The level of 142.08 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 142.08 with the targets at 155.70–158.85. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 142.08 will let the price go down to the level of 137.26.
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