IBM Corp.: wave analysis
21 December 2018, 08:38
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 113.01 |
| Take Profit | 107.00, 100.00 |
| Stop Loss | 118.90 |
| Key Levels | 100.00, 107.00, 120.27, 129.05, 134.03 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 120.30 |
| Take Profit | 129.05, 134.03 |
| Stop Loss | 117.35 |
| Key Levels | 100.00, 107.00, 120.27, 129.05, 134.03 |
The price may fall.
On the 4-hour chart, a downward trend develops as the third wave of the higher level 3. Now the upward correction iv of 3 has formed, and the fifth wave of the lower level v of 3 is developing. If the assumption is correct, the price will fall to the levels of 107.00–100.00. In this scenario, critical stop loss level is 120.27.
Main scenario
Short positions will become relevant during the correction, below the level of 120.27 with the targets at 107.00–100.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 120.27 will let the price grow to the levels of 129.05–134.03.
On the 4-hour chart, a downward trend develops as the third wave of the higher level 3. Now the upward correction iv of 3 has formed, and the fifth wave of the lower level v of 3 is developing. If the assumption is correct, the price will fall to the levels of 107.00–100.00. In this scenario, critical stop loss level is 120.27.
Main scenario
Short positions will become relevant during the correction, below the level of 120.27 with the targets at 107.00–100.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 120.27 will let the price grow to the levels of 129.05–134.03.
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