American Express Co.: wave analysis
02 August 2019, 09:58
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 124.08 |
| Take Profit | 108.08, 88.94 |
| Stop Loss | 129.40 |
| Key Levels | 88.94, 108.08, 129.40, 135.00, 140.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 129.45 |
| Take Profit | 135.00, 140.00 |
| Stop Loss | 127.60 |
| Key Levels | 88.94, 108.08, 129.40, 135.00, 140.00 |
The price may fall.
On the daily chart, the wave A of the higher level developed, within which the wave 5 of (5) formed. Now, the development of the downward correction of the higher level is beginning as the wave B. If the assumption is correct, the price will fall to the levels of 108.08–88.94. In this scenario, critical stop loss level is 129.40.
Main scenario
Short positions will become relevant during the correction, below the level of 129.40 with the targets at 108.08–88.94. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 129.40 will let the price grow to the levels of 135.00–140.00.
On the daily chart, the wave A of the higher level developed, within which the wave 5 of (5) formed. Now, the development of the downward correction of the higher level is beginning as the wave B. If the assumption is correct, the price will fall to the levels of 108.08–88.94. In this scenario, critical stop loss level is 129.40.
Main scenario
Short positions will become relevant during the correction, below the level of 129.40 with the targets at 108.08–88.94. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 129.40 will let the price grow to the levels of 135.00–140.00.
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