Altria Group Inc.: wave analysis
11 December 2018, 10:22
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 53.12 |
| Take Profit | 45.80 |
| Stop Loss | 56.22 |
| Key Levels | 45.80, 56.22, 59.45 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 56.30 |
| Take Profit | 59.45 |
| Stop Loss | 55.25 |
| Key Levels | 45.80, 56.22, 59.45 |
The probability of a decrease remains.
On the daily timeframe, presumably, there is a development of a downward correction as a wave 2 of the higher level, as part of which the wave (A) of 2 is being formed. If the assumption is correct, the price reduction will continue to the level of 45.80. The critical level for this scenario is 56.22.
Main scenario
Short positions will become relevant below the level of 56.22 with a target of 45.80. Implementation period: 7+ days.
Alternative scenario
The breakout and the consolidation of the price above the level of 56.22 will allow the shares to rise to the level of 59.45.
On the daily timeframe, presumably, there is a development of a downward correction as a wave 2 of the higher level, as part of which the wave (A) of 2 is being formed. If the assumption is correct, the price reduction will continue to the level of 45.80. The critical level for this scenario is 56.22.
Main scenario
Short positions will become relevant below the level of 56.22 with a target of 45.80. Implementation period: 7+ days.
Alternative scenario
The breakout and the consolidation of the price above the level of 56.22 will allow the shares to rise to the level of 59.45.
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