Altria Group Inc.: wave analysis
04 September 2018, 09:37
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 58.49 |
| Take Profit | 53.90, 51.50 |
| Stop Loss | 61.30 |
| Key Levels | 51.50, 53.90, 61.30, 64.73, 66.44 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 61.35 |
| Take Profit | 64.73, 66.44 |
| Stop Loss | 60.20 |
| Key Levels | 51.50, 53.90, 61.30, 64.73, 66.44 |
The price can fall.
On the 4-hour chart, the large downward correction develops as a wave (2) of the higher level. Now the wave C of (2) is developing, within which the upward correction has formed as a wave iv of C, and the development of the wave v of C has begun. If the assumption is correct, the price will fall to the levels of 53.90–51.50. In this scenario, critical stop loss level is 61.30.
Main scenario
Short positions will become relevant during the correction, below the level of 61.30 with the targets at 53.90–51.50. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 61.30 will let the price grow to the levels of 64.73–66.44.
On the 4-hour chart, the large downward correction develops as a wave (2) of the higher level. Now the wave C of (2) is developing, within which the upward correction has formed as a wave iv of C, and the development of the wave v of C has begun. If the assumption is correct, the price will fall to the levels of 53.90–51.50. In this scenario, critical stop loss level is 61.30.
Main scenario
Short positions will become relevant during the correction, below the level of 61.30 with the targets at 53.90–51.50. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 61.30 will let the price grow to the levels of 64.73–66.44.
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