Altria Group Inc.: wave analysis 04 July 2019, 09:27

Altria Group Inc.: wave analysis

04 July 2019, 09:27

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	49.20
Take Profit	57.85, 60.10
Stop Loss	47.31
Key Levels	42.50, 45.50, 47.31, 57.85, 60.10

Alternative scenario
Recommendation	SELL STOP
Entry Point	47.25
Take Profit	45.50, 42.50
Stop Loss	47.85
Key Levels	42.50, 45.50, 47.31, 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, within which the wave c of B has 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 47.31.


Main scenario
Long positions will become relevant during the correction, above the level of 47.31 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 47.31 will let the price go down to the levels of 45.50–42.50.