IBM CORP.: WAVE ANALYSIS

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IBM CORP.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point166.20
Take Profit220.00, 240.00
Stop Loss150.70
Key Levels120.25, 135.35, 150.70, 220.00, 240.00
Alternative scenario
RecommendationSELL STOP
Entry Point150.65
Take Profit135.35, 120.25
Stop Loss155.75
Key Levels120.25, 135.35, 150.70, 220.00, 240.00

The price is in a correction and may grow.

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, and a local correction is developing as the fourth wave 4 of (3). If the assumption is correct, the asset will grow to the area of 220.00–240.00. In this scenario, critical stop loss level is 150.70.

IBM CORP.: WAVE ANALYSIS

IBM CORP.: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 150.70 with the targets at 220.00–240.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 150.70 will let the asset go down to the area of 135.35–120.25.


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