American Express Co.: wave analysis
12 July 2019, 09:47
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 127.25 |
| Take Profit | 132.07, 136.00 |
| Stop Loss | 125.65 |
| Key Levels | 108.08, 113.78, 120.81, 132.07, 136.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 120.75 |
| Take Profit | 113.78, 108.08 |
| Stop Loss | 123.15 |
| Key Levels | 108.08, 113.78, 120.81, 132.07, 136.00 |
The trend is upward.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) develops. Now, the third wave of the lower level iii of 5 is forming, within which the wave (iii) of iii is developing. If the assumption is correct, the price will grow to the levels of 132.07–136.00. In this scenario, critical stop loss level is 120.81.
Main scenario
Long positions will become relevant during the correction, above the level of 120.81 with the targets at 132.07–136.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 120.81 will let the price go down to the levels of 113.78–108.08.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) develops. Now, the third wave of the lower level iii of 5 is forming, within which the wave (iii) of iii is developing. If the assumption is correct, the price will grow to the levels of 132.07–136.00. In this scenario, critical stop loss level is 120.81.
Main scenario
Long positions will become relevant during the correction, above the level of 120.81 with the targets at 132.07–136.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 120.81 will let the price go down to the levels of 113.78–108.08.
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