IBM CORP.: WAVE ANALYSIS

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IBM CORP.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point145.28
Take Profit120.20, 115.30
Stop Loss153.43
Key Levels115.30, 120.20, 153.43, 160.00, 165.00
Alternative scenario
RecommendationBUY STOP
Entry Point153.45
Take Profit160.00, 165.00
Stop Loss151.25
Key Levels115.30, 120.20, 153.43, 160.00, 165.00

The probability of decline remains.

On the daily chart, the first wave of the higher level (1) of 5 has formed and a downward correction is developing as the second wave (2) of 5. At the moment, wave A of (2) and the upward corrective wave B of (2) have ended, in which wave c of B has appeared. If the assumption is correct, the price will drop to the area of 120.20–115.30. The level of 153.43 is critical and stop-loss for this scenario.

IBM CORP.: WAVE ANALYSIS

IBM CORP.: WAVE ANALYSIS

Main scenario

Short positions are relevant below the level of 153.43 with targets at 120.20–115.30. Implementation time: 7 days and more.

Alternative scenario

Breakout and consolidation of the price above 153.43 will allow the instrument to continue its uptrend to the area of 160.00–165.00.

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