Boeing Co.: wave analysis 25 January 2019, 08:34

Boeing Co.: wave analysis

25 January 2019, 08:34

Scenario
Timeframe	Weekly
Recommendation	SELL
Entry Point	358.22
Take Profit	329.90, 321.00
Stop Loss	367.35
Key Levels	321.00, 329.90, 367.35, 394.50, 425.10

Alternative scenario
Recommendation	BUY STOP
Entry Point	367.40
Take Profit	394.50, 425.10
Stop Loss	358.35
Key Levels	321.00, 329.90, 367.35, 394.50, 425.10

The price may decrease.
On the 4-hour chart, a correction of the higher level formed as the fourth wave (4). Now the development of the fifth wave (5) has begun, within which the first entry wave of the lower level i of 1 of (5) has formed, and the development of a local downward correction as the wave ii of 1 is beginning. If the assumption is correct, the price will fall to the levels of 329.90–321.00. In this scenario, critical stop loss level is 367.35.


Main scenario
Short positions will become relevant below the level of 367.35 with the targets at 329.90–321.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 367.35 will let the price grow to the levels of 394.50–425.10.