JP Morgan Chase Co.: wave analysis
03 December 2018, 08:38
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 111.19 |
| Take Profit | 119.10, 125.00 |
| Stop Loss | 105.84 |
| Key Levels | 102.74, 105.84, 119.10, 125.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 105.80 |
| Take Profit | 102.74 |
| Stop Loss | 106.85 |
| Key Levels | 102.74, 105.84, 119.10, 125.00 |
The price may grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) forms. Now the formation of the third wave of the lower level iii of 5 has begun, within which the local correction (ii) of iii has ended, and the development of the wave (iii) of iii is beginning. If the assumption is correct, the price will grow to the levels of 119.10–125.00. In this scenario, critical stop loss level is 105.84.
Main scenario
Long positions will become relevant above the level of 105.84 with the targets at 119.10–125.00. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 105.84 will let the price go down to the level of 102.74.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) forms. Now the formation of the third wave of the lower level iii of 5 has begun, within which the local correction (ii) of iii has ended, and the development of the wave (iii) of iii is beginning. If the assumption is correct, the price will grow to the levels of 119.10–125.00. In this scenario, critical stop loss level is 105.84.
Main scenario
Long positions will become relevant above the level of 105.84 with the targets at 119.10–125.00. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 105.84 will let the price go down to the level of 102.74.
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