ALPHABET INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 131.89 |
| Take Profit | 142.00, 150.50 |
| Stop Loss | 128.49 |
| Key Levels | 105.50, 110.95, 118.35, 142.00, 150.50 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 118.30 |
| Take Profit | 110.95, 105.50 |
| Stop Loss | 120.75 |
| Key Levels | 105.50, 110.95, 118.35, 142.00, 150.50 |
Growth is possible.
On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the development of the fifth wave (5) started. Now, the entry first wave of the lower level 1 of (5) is developing, within which the wave iii of 1 has formed. If the assumption is correct, the price will grow to the area of 142.00–150.50. In this scenario, critical stop loss level is 118.35.
Main scenario
Long positions will become relevant above the level of 118.35 with the targets at 142.00–150.50. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 118.35 will let the asset go down to the area of 110.95–105.50.
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