Boeing Co.: wave analysis 19 December 2018, 08:25

Boeing Co.: wave analysis

19 December 2018, 08:25

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	328.10
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	301.15
Key Levels	250.10, 283.78, 296.90, 394.50, 420.50

The price may grow.
On the 4-hour chart, the formation of the correction as a wave (4) within the third wave 3 of the higher level ended. Now 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 formed, and a local correction as the wave ii of 1 has ended. If the assumption is correct, the price will grow to the levels of 394.50–420.50. In this scenario, critical stop loss level is 296.90.


Main scenario
Long positions will become relevant during the correction, above the level of 296.90 with the targets at 394.50–420.50. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 296.90 will let the price go down to the levels of 283.78–250.10.