IBM CORP.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 176.52 |
| Take Profit | 205.00, 220.00 |
| Stop Loss | 157.65 |
| Key Levels | 120.27, 135.35, 157.65, 205.00, 220.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 157.60 |
| Take Profit | 135.35, 120.27 |
| Stop Loss | 165.00 |
| Key Levels | 120.27, 135.35, 157.65, 205.00, 220.00 |
Growth is possible.
On the daily chart, the fifth wave of the higher level 5 develops, within which the wave (3) of 5 forms. Now, the third wave of the lower level 3 of (3) has ended, a local correction has formed as the fourth wave 4 of (3), and the fifth wave 5 of (3) has started, within which the wave i of 5 is developing. If the assumption is correct, the asset will grow to the area of 205.00–220.00. In this scenario, critical stop loss level is 157.65.
Main scenario
Long positions will become relevant above the level of 157.65 with the targets at 205.00–220.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 157.65 will let the asset go down to the area of 135.35–120.27.
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