IBM Corp.: wave analysis
11 December 2019, 08:35
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 133.89 |
| Take Profit | 120.50, 113.40 |
| Stop Loss | 135.94 |
| Key Levels | 113.40, 120.50, 135.94, 141.04, 147.18 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 136.00 |
| Take Profit | 141.04, 147.18 |
| Stop Loss | 134.30 |
| Key Levels | 113.40, 120.50, 135.94, 141.04, 147.18 |
The price is falling.
On the 4-hour chart, an upward correction of the higher level formed as the wave (4) of C, and the development of the wave (5) started. Now, the third wave 3 of (5) is forming, within which the local correction ii of 3 has developed, and the wave iii of 3 of the lower level is forming. If the assumption is correct, the price will fall to the levels of 120.50–113.40. In this scenario, critical stop loss level is 135.94.
Main scenario
Short positions will become relevant during the correction, below the level of 135.94 with the targets at 120.50–113.40. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 135.94 will let the price grow to the levels of 141.04–147.18.
On the 4-hour chart, an upward correction of the higher level formed as the wave (4) of C, and the development of the wave (5) started. Now, the third wave 3 of (5) is forming, within which the local correction ii of 3 has developed, and the wave iii of 3 of the lower level is forming. If the assumption is correct, the price will fall to the levels of 120.50–113.40. In this scenario, critical stop loss level is 135.94.
Main scenario
Short positions will become relevant during the correction, below the level of 135.94 with the targets at 120.50–113.40. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 135.94 will let the price grow to the levels of 141.04–147.18.
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