IBM Corp.: wave analysis 10 December 2018, 09:35

IBM Corp.: wave analysis

10 December 2018, 09:35

Scenario
Timeframe	Weekly
Recommendation	SELL
Entry Point	119.29
Take Profit	107.00, 100.00
Stop Loss	126.60
Key Levels	100.00, 107.00, 126.60, 134.03, 138.58

Alternative scenario
Recommendation	BUY STOP
Entry Point	126.70
Take Profit	134.03, 138.58
Stop Loss	124.25
Key Levels	100.00, 107.00, 126.60, 134.03, 138.58

The probability of decline remains.
On the H4 chart, the downward trend continues to develop as the third wave of the higher level 3. At the moment, the third wave of the lower level iii of 3 has formed, and the upward correction iv of 3 is completed. If the assumption is correct, the decline will continue to the levels of 107.00–100.00 in the frame of wave v of 3. The critical level for this scenario is 126.60.


Main scenario
Short positions will become relevant below the level of 126.60 with a target in the range of 107.00–100.00. Implementation period: 7+ days.
Alternative scenario
Breakout and consolidation of the price above the level of 126.60 will allow the asset to grow to the levels of 134.03–138.58.