American Express Co.: wave analysis
14 June 2019, 09:36
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 121.78 |
| Take Profit | 128.00, 130.00 |
| Stop Loss | 117.95 |
| Key Levels | 108.00, 113.80, 117.95, 128.00, 130.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 117.90 |
| Take Profit | 113.80, 108.00 |
| Stop Loss | 119.30 |
| Key Levels | 108.00, 113.80, 117.95, 128.00, 130.00 |
The price may grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) develops. Now, the fifth wave v of 5 is forming, within which the wave of the lower level (i) of v has developed. If the assumption is correct, after the correction (ii) of v the price will grow to the levels of 128.00–130.00. In this scenario, critical stop loss level is 117.95.
Main scenario
Long positions will become relevant during the correction, above the level of 117.95 with the targets at 128.00–130.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 117.95 will let the price go down to the levels of 113.80–108.00.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) develops. Now, the fifth wave v of 5 is forming, within which the wave of the lower level (i) of v has developed. If the assumption is correct, after the correction (ii) of v the price will grow to the levels of 128.00–130.00. In this scenario, critical stop loss level is 117.95.
Main scenario
Long positions will become relevant during the correction, above the level of 117.95 with the targets at 128.00–130.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 117.95 will let the price go down to the levels of 113.80–108.00.
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