Altria Group Inc.: wave analysis 18 December 2018, 11:03

Altria Group Inc.: wave analysis

18 December 2018, 11:03

Scenario
Timeframe	Weekly
Recommendation	SELL
Entry Point	52.35
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

On the daily timeframe, a large downward correction is being developed as a wave 2 of the senior level, which forms the wave (A) of 2. As of now, the fifth wave 5 of (A) is apparently developing, within which the formation of the junior wave iii of 5 has started. If the assumption is correct, the price will continue to decline to 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.