IBM Corp.: wave analysis
03 July 2019, 09:35
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 140.16 |
| Take Profit | 121.22, 105.69 |
| Stop Loss | 145.29 |
| Key Levels | 105.69, 121.22, 145.29, 154.53 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 145.35 |
| Take Profit | 154.53 |
| Stop Loss | 142.25 |
| Key Levels | 105.69, 121.22, 145.29, 154.53 |
The price may fall.
On the 4-hour chart, the fifth wave of the higher level (5) of C develops. Now, the first wave 1 of (5) of the lower level has formed, and the development of the upward correction 2 of (5), shaped as a zigzag, is ending. If the assumption is correct, after the end of the correction, the price will fall to the levels of 121.22–105.69. In this scenario, critical stop loss level is 145.29.
Main scenario
Short positions will become relevant below the level of 145.29 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 145.29 will let the price grow to the level of 154.53 and higher.
On the 4-hour chart, the fifth wave of the higher level (5) of C develops. Now, the first wave 1 of (5) of the lower level has formed, and the development of the upward correction 2 of (5), shaped as a zigzag, is ending. If the assumption is correct, after the end of the correction, the price will fall to the levels of 121.22–105.69. In this scenario, critical stop loss level is 145.29.
Main scenario
Short positions will become relevant below the level of 145.29 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 145.29 will let the price grow to the level of 154.53 and higher.
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