Wednesday, January 25, 2017

IBM Corp.: wave analysis | FX Signals

IBM Corp.: wave analysis | FX Signals

IBM Corp.: wave analysis25 January 2017, 09:24


Scenario
TimeframeWeekly
RecommendationBUY
Entry Point176.02
Take Profit182.50
Stop Loss173.80
Key Levels149.60, 164.80, 182.50
Alternative scenario
RecommendationSELL STOP
Entry Point164.70
Take Profit149.60
Stop Loss169.50
Key Levels149.60, 164.80, 182.50
Upward trend is strong.
Assumingly, an upward impulse continues forming. Locally, the third wave iii of 3 seems to be developing, within which the third wave (iii) of the lower level is forming. If the assumption is correct, the price is expected to continue growing towards the level of 182.50. Critical for this scenario could be the level of 164.80, a breakdown of which would allow the price to fall to 149.60.
Main scenario
Buy the instrument above the level of 164.80 with the target at 182.50.
Alternative scenario
The breakdown and consolidation below the level of 164.80 would allow the price to fall to 149.60.