ALTRIA GROUP INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 43.63 |
| Take Profit | 46.30, 49.00 |
| Stop Loss | 41.40 |
| Key Levels | 38.00, 39.15, 41.40, 46.30, 49.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 41.35 |
| Take Profit | 39.15, 38.00 |
| Stop Loss | 42.10 |
| Key Levels | 38.00, 39.15, 41.40, 46.30, 49.00 |
The price is in a correction and may grow.
On the daily chart, the first wave of the higher level (1) ended, and a downward correction formed as the second wave (2), within which the wave C of (2) developed. Now, the third wave (3) has started, within which the entry first wave of the lower level i of 1 of (3) has developed, and a local correction is developing as the second wave ii of 1 of (3). If the assumption is correct, after the correction the asset will grow to the area of 46.30–49.00. In this scenario, critical stop loss level is 41.40.
Main scenario
Long positions will become relevant above the level of 41.40 with the targets at 46.30–49.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 41.40 will let the asset go down to the area of 39.15–38.00.
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