IBM CORP.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 160.11 |
| Take Profit | 172.00, 180.00 |
| Stop Loss | 151.00 |
| Key Levels | 124.00, 135.35, 151.00, 172.00, 180.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 150.95 |
| Take Profit | 135.35, 124.00 |
| Stop Loss | 156.15 |
| Key Levels | 124.00, 135.35, 151.00, 172.00, 180.00 |
The price is in a correction and may grow.
On the weekly chart, the first wave of the higher level (1) of 5 forms, within which the wave 5 of (1) forms. Now, the third wave of the lower level iii of 5 is developing, within which a local correction is forming as the wave (iv) of iii. If the assumption is correct, the asset will grow to the area of 172.00–180.00. In this scenario, critical stop loss level is 151.00.
Main scenario
Long positions will become relevant above the level of 151.00 with the targets at 172.00–180.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 151.00 will let the asset go down to the area of 135.35–124.00.
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