American Express Co.: wave analysis
28 June 2019, 09:28
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 123.94 |
| Take Profit | 128.00, 130.00 |
| Stop Loss | 120.66 |
| Key Levels | 113.81, 117.99, 120.66, 128.00, 130.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 120.60 |
| Take Profit | 117.99, 113.81 |
| Stop Loss | 121.50 |
| Key Levels | 113.81, 117.99, 120.66, 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 (iv) of v has formed, and the development of the wave (v) of v has begun. If the assumption is correct, the price will grow to the levels of 128.00–130.00. In this scenario, critical stop loss level is 120.66.
Main scenario
Long positions will become relevant during the correction, above the level of 120.66 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 120.66 will let the price go down to the levels of 117.99–113.81.
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 (iv) of v has formed, and the development of the wave (v) of v has begun. If the assumption is correct, the price will grow to the levels of 128.00–130.00. In this scenario, critical stop loss level is 120.66.
Main scenario
Long positions will become relevant during the correction, above the level of 120.66 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 120.66 will let the price go down to the levels of 117.99–113.81.
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