Altria Group Inc.: wave analysis
30 May 2019, 09:27
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 50.19 |
| Take Profit | 48.36 |
| Stop Loss | 52.00 |
| Key Levels | 48.36, 53.05, 57.85, 60.10 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 53.10 |
| Take Profit | 57.85, 60.10 |
| Stop Loss | 51.50 |
| Key Levels | 48.36, 53.05, 57.85, 60.10 |
The price is in a correction, a fall is possible.
On the 4-hour chart, the upward correction of the higher level develops as the wave (B) of 2. Now, the wave A of (B) has formed as a momentum, and the wave B of (B) is developing, within which the wave c of B is forming. If the assumption is correct, the price will fall to the level of 48.36. In this scenario, critical stop loss level is 53.05.
Main scenario
Short positions will become relevant during the correction, below the level of 53.05 with the target at 48.36. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 53.05 will let the price grow to the levels of 57.85–60.10.
On the 4-hour chart, the upward correction of the higher level develops as the wave (B) of 2. Now, the wave A of (B) has formed as a momentum, and the wave B of (B) is developing, within which the wave c of B is forming. If the assumption is correct, the price will fall to the level of 48.36. In this scenario, critical stop loss level is 53.05.
Main scenario
Short positions will become relevant during the correction, below the level of 53.05 with the target at 48.36. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 53.05 will let the price grow to the levels of 57.85–60.10.
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