IBM Corp.: wave analysis 12 June 2019, 09:43

IBM Corp.: wave analysis

12 June 2019, 09:43

Scenario
Timeframe	Weekly
Recommendation	SELL
Entry Point	135.85
Take Profit	121.22, 105.69
Stop Loss	138.50
Key Levels	138.50, 121.22, 105.69, 141.79, 145.37

Alternative scenario
Recommendation	BUY STOP
Entry Point	138.60
Take Profit	141.79, 145.37
Stop Loss	137.50
Key Levels	138.50, 121.22, 105.69, 141.79, 145.37

The correction is ending. The price may fall.
On the 4-hour chart, the upward correction of the higher level formed as the fourth wave (4), and the development of the wave (5) began. Now, the first wave 1 of (5) of the lower level has formed, and the development of the upward correction 2 of (5) is ending. If the assumption is correct, the price will fall to the levels of 121.22–105.69. In this scenario, critical stop loss level is 138.50.


Main scenario
Short positions will become relevant below the level of 138.50 with the targets at 121.22–105.69. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 138.50 will let the price grow to the levels of 141.79–145.37.