Altria Group Inc.: wave analysis
20 June 2019, 09:46
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 49.95 |
| Take Profit | 57.85, 60.10 |
| Stop Loss | 48.95 |
| Key Levels | 42.50, 47.00, 48.95, 57.85, 60.10 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 48.90 |
| Take Profit | 47.00, 42.50 |
| Stop Loss | 49.55 |
| Key Levels | 42.50, 47.00, 48.95, 57.85, 60.10 |
The price may grow.
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) has developed, and the formation of the wave C of (B) is beginning, within which the wave i of C and ii of C have formed. If the assumption is correct, the price will grow to the levels of 57.85–60.10. In this scenario, critical stop loss level is 48.95.
Main scenario
Long positions will become relevant during the correction, above the level of 48.95 with the targets at 57.85–60.10. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 48.95 will let the price go down to the levels of 47.00–42.50.
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) has developed, and the formation of the wave C of (B) is beginning, within which the wave i of C and ii of C have formed. If the assumption is correct, the price will grow to the levels of 57.85–60.10. In this scenario, critical stop loss level is 48.95.
Main scenario
Long positions will become relevant during the correction, above the level of 48.95 with the targets at 57.85–60.10. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 48.95 will let the price go down to the levels of 47.00–42.50.
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