Boeing Co.: wave analysis
31 May 2019, 09:21
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 349.80 |
| Take Profit | 330.78 |
| Stop Loss | 361.27 |
| Key Levels | 330.78, 361.27, 445.24, 500.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 361.30 |
| Take Profit | 445.24, 500.00 |
| Stop Loss | 333.30 |
| Key Levels | 330.78, 361.27, 445.24, 500.00 |
The price is in a correction, a fall is possible.
On the 4-hour chart, the fifth wave of the higher level (5) develops, within which the wave 1 of (5) formed, and the downward correction 2 of (5) develops. Now, the wave c of 2 is developing, within which the local correction of the lower level (iv) of c has formed, and the wave (v) of c is developing. If the assumption is correct, the price will fall to the level of 330.78. In this scenario, critical stop loss level is 361.27.
Main scenario
Short positions will become relevant during the correction, below the level of 361.27 with the target at 330.78. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 361.27 will let the price grow to the levels of 445.24–500.00.
On the 4-hour chart, the fifth wave of the higher level (5) develops, within which the wave 1 of (5) formed, and the downward correction 2 of (5) develops. Now, the wave c of 2 is developing, within which the local correction of the lower level (iv) of c has formed, and the wave (v) of c is developing. If the assumption is correct, the price will fall to the level of 330.78. In this scenario, critical stop loss level is 361.27.
Main scenario
Short positions will become relevant during the correction, below the level of 361.27 with the target at 330.78. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 361.27 will let the price grow to the levels of 445.24–500.00.
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