Altria Group Inc.: wave analysis 04 December 2018, 08:46

Altria Group Inc.: wave analysis

04 December 2018, 08:46

Scenario
Timeframe	Weekly
Recommendation	SELL
Entry Point	55.72
Take Profit	45.80
Stop Loss	61.00
Key Levels	45.80, 61.00, 66.10

Alternative scenario
Recommendation	BUY STOP
Entry Point	61.10
Take Profit	66.10
Stop Loss	59.40
Key Levels	45.80, 61.00, 66.10

The price may decrease.
On the daily chart, a large downward correction develops as the wave 2 of the higher level, within which the wave (A) of 2 is forming. Now the fifth wave 5 of (A) is developing, within which the wave of the lower level i of 5 has formed, and the local upward correction ii of 5 is developing. If the assumption is correct, after the end of the correction the price will fall to the level of 45.80. In this scenario, the critical stop loss level is 61.00.


Main scenario
Short positions will become relevant after the end of the correction, below the level of 61.00 with the target at 45.80. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 61.00 will let the price grow to the level of 66.10.