Altria Group Inc.: wave analysis
24 January 2019, 08:27
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 44.69 |
| Take Profit | 43.00, 41.00 |
| Stop Loss | 46.20 |
| Key Levels | 41.00, 43.00, 48.53, 56.16, 66.10 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 48.60 |
| Take Profit | 56.16, 66.10 |
| Stop Loss | 46.05 |
| Key Levels | 41.00, 43.00, 48.53, 56.16, 66.10 |
The price may fall.
On the 4-hour chart, a large downward correction develops as the wave 2 of the higher level, within which the wave (A) of 2 forms. Now the fifth wave 5 of (A) is developing as a momentum, within which the local correction of the lower level iv of 5 has ended, and the wave v of 5 is forming. If the assumption is correct, the price will fall to the levels of 43.00–41.00. In this scenario, critical stop loss level is 48.53.
Main scenario
Short positions will become relevant during the correction, below the level of 48.53 with the targets at 43.00–41.00. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 48.53 will let the price grow to the levels of 56.16–66.10.
On the 4-hour chart, a large downward correction develops as the wave 2 of the higher level, within which the wave (A) of 2 forms. Now the fifth wave 5 of (A) is developing as a momentum, within which the local correction of the lower level iv of 5 has ended, and the wave v of 5 is forming. If the assumption is correct, the price will fall to the levels of 43.00–41.00. In this scenario, critical stop loss level is 48.53.
Main scenario
Short positions will become relevant during the correction, below the level of 48.53 with the targets at 43.00–41.00. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 48.53 will let the price grow to the levels of 56.16–66.10.
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