ALTRIA GROUP INC.: WAVE ANALYSIS

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ALTRIA GROUP INC.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point45.43
Take Profit49.00, 50.50
Stop Loss44.23
Key Levels36.50, 39.00, 40.70, 49.00, 50.50
Alternative scenario
RecommendationSELL STOP
Entry Point40.65
Take Profit39.00, 36.50
Stop Loss41.20
Key Levels36.50, 39.00, 40.70, 49.00, 50.50

The price is in a correction and may grow.

On the daily chart, the first wave of the higher level (1) formed, a downward correction ended as the second wave (2), and the third wave (3) started. Now, the entry first wave of the lower level 1 of (3) is developing, within which a local correction is developing as the wave iv of 1 of (3). If the assumption is correct, the asset will grow to the area of 49.00–50.50. In this scenario, critical stop loss level is 40.70.

ALTRIA GROUP INC.: WAVE ANALYSIS

ALTRIA GROUP INC.: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 40.70 with the targets at 49.00–50.50. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 40.70 will let the asset go down to the area of 39.00–36.50.


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