ALTRIA GROUP INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 41.55 |
| Take Profit | 38.00, 35.00 |
| Stop Loss | 43.00 |
| Key Levels | 35.00, 38.00, 43.00, 46.30, 49.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 43.05 |
| Take Profit | 46.30, 49.00 |
| Stop Loss | 42.00 |
| Key Levels | 35.00, 38.00, 43.00, 46.30, 49.00 |
A fall is possible.
On the daily chart, the first wave of the higher level (1) ended, and a downward correction forms as the second wave (2), within which the wave C of (2) develops. Now, the third wave of the lower level iii of C has ended, a local correction has formed as the fourth wave iv of C, and the fifth wave v of C is developing. If the assumption is correct, the price of the asset will fall to the area of 38.00–35.00. In this scenario, critical stop loss level is 43.00.
Main scenario
Short positions will become relevant below the level of 43.00 with the targets at 38.00–35.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 43.00 will let the asset grow to the area of 46.30–49.00.
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