American Express Co.: wave analysis
19 December 2018, 08:28
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 100.98 |
| Take Profit | 95.30 |
| Stop Loss | 106.50 |
| Key Levels | 95.30, 108.70, 114.60 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 108.80 |
| Take Profit | 114.60 |
| Stop Loss | 106.85 |
| Key Levels | 95.30, 108.70, 114.60 |
The price may fall.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) of A formed. Now the first wave of the lower level 1 of (A) within the large began correction is forming as the wave B. If the assumption is correct, the price will fall to the level of 95.30. In this scenario, critical stop loss level is 108.70.
Main scenario
Short positions will become relevant during the correction, below the level of 108.70 with the target at 95.30. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 108.70 will let the price grow to the level of 114.60.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) of A formed. Now the first wave of the lower level 1 of (A) within the large began correction is forming as the wave B. If the assumption is correct, the price will fall to the level of 95.30. In this scenario, critical stop loss level is 108.70.
Main scenario
Short positions will become relevant during the correction, below the level of 108.70 with the target at 95.30. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 108.70 will let the price grow to the level of 114.60.
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