IBM Corp.: wave analysis2017-03-08 08:34 (GMT+2) Stocks

The trend is upward.

On the 4-hour chart the upward momentum within the third wave of the highest level iii of 3 is developing. Locally the correction (iv) of iii is ending. If the assumption is correct, the price will grow to the level of 185.95. The level of 179.30 is critical for this scenario, in case of breakout the price will lower to the level of 175.55.

Trading scenario

Buy the stock from the correction above the level of 179.30 with the target at 185.95.

Alternative scenario

The breakout and the consolidation of the price below the level of 179.30 will let the price to lower to the level of 175.55.

2017-03-08 08:34 (GMT+2) Stocks

IBM Corp.: wave analysis

2017-03-08 08:34 (GMT+2) Stocks

IBM Corp.: wave analysis

(STOCKS)

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 180.86
Take Profit 185.95
Stop Loss 179.15
Key Levels 175.55, 179.30, 185.95

Alternative scenario

Recommendation SELL STOP
Entry Point 179.20
Take Profit 175.55
Stop Loss 180.40
Key Levels 175.55, 179.30, 185.95

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