Altria Group Inc.: wave analysis
14 February 2019, 08:44
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 48.98 |
| Take Profit | 55.90, 60.10 |
| Stop Loss | 42.30 |
| Key Levels | 38.32, 42.30, 55.90, 60.10 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 42.25 |
| Take Profit | 38.32 |
| Stop Loss | 43.60 |
| Key Levels | 38.32, 42.30, 55.90, 60.10 |
The price may grow.
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 formed. Now the development of an upward correction as the wave (B) of 2 is beginning, within which the wave A of (B) is developing. If the assumption is correct, the price will grow to the levels of 55.90–60.10. In this scenario, critical stop loss level is 42.30.
Main scenario
Long positions will become relevant during the correction, above the level of 42.30 with the targets at 55.90–60.10. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 42.30 will let the price go down to the level of 38.32.
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 formed. Now the development of an upward correction as the wave (B) of 2 is beginning, within which the wave A of (B) is developing. If the assumption is correct, the price will grow to the levels of 55.90–60.10. In this scenario, critical stop loss level is 42.30.
Main scenario
Long positions will become relevant during the correction, above the level of 42.30 with the targets at 55.90–60.10. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 42.30 will let the price go down to the level of 38.32.
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