Altria Group Inc.: wave analysis
06 June 2019, 09:48
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 49.65 |
| Take Profit | 48.36, 47.00 |
| Stop Loss | 50.70 |
| Key Levels | 47.00, 48.36, 50.70, 57.85, 60.10 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 50.75 |
| Take Profit | 57.85, 60.10 |
| Stop Loss | 48.35 |
| Key Levels | 47.00, 48.36, 50.70, 57.85, 60.10 |
The price in is correction, the 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 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 levels of 48.36–47.00. In this scenario, critical stop loss level is 50.70.
Main scenario
Short positions will become relevant during the correction, below the level of 50.70 with the targets at 48.36–47.00. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 50.70 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 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 levels of 48.36–47.00. In this scenario, critical stop loss level is 50.70.
Main scenario
Short positions will become relevant during the correction, below the level of 50.70 with the targets at 48.36–47.00. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 50.70 will let the price grow to the levels of 57.85–60.10.
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