Boeing Co.: wave analysis 12 December 2018, 10:04

Boeing Co.: wave analysis

12 December 2018, 10:04

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	322.03
Take Profit	394.50, 420.50
Stop Loss	296.90
Key Levels	250.10, 283.78, 296.90, 394.50, 420.50

Alternative scenario
Recommendation	SELL STOP
Entry Point	296.80
Take Profit	283.78, 250.10
Stop Loss	301.20
Key Levels	250.10, 283.78, 296.90, 394.50, 420.50

The probability of growth remains.
On the H4 chart, the correction as a wave (4) in the third wave 3 of the higher level has been completed. At the moment, it seems that the development of the fifth wave (5) of 3 has begun, within which the first wave of the lower level i of 1 of (5) has been formed, and the local correction as the wave ii of 1 has been completed. If the assumption is correct, after the completion of the correction, the growth will continue to the levels of 394.50-420.50. The critical level for this scenario is 296.90.


Main scenario
Long positions will become relevant above the level of 296.90 with a target in the range of 394.50-420.50. Implementation period: 7+ days.
Alternative scenario
A breakdown and consolidation of the price below the level of 296.90 will allow the asset to decline to the levels of 283.78–250.10.