Alphabet Inc.: wave analysis
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 164.26 |
| Take Profit | 129.85, 115.00 |
| Stop Loss | 191.63 |
| Key Levels | 115.00, 129.85, 191.63, 215.00, 230.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 191.65 |
| Take Profit | 215.00, 230.00 |
| Stop Loss | 183.85 |
| Key Levels | 115.00, 129.85, 191.63, 215.00, 230.00 |
A fall is possible.
On the daily chart, the third wave of the higher level (3) ended, and a correction started as the fourth wave (4). Now, the wave А of (4) is developing, within which the first wave of the lower level i of A has formed, and a correction is ending as the second wave ii of A. If the assumption is correct, the price of the asset will fall to the area of 129.85–115.00. In this scenario, critical stop loss level is 191.63.
Main scenario
Short positions will become relevant below the level of 191.63 with the targets at 129.85–115.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 191.63 will let the asset grow to the area of 215.00–230.00.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.