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IBM Corp., Elliot Wave Analysis

11/30/2022 10:15 AM

Growth is possible.

On the daily chart, the first wave of the higher level (1) of 5 develops, within which the wave 3 of (1) and the correction as the wave 4 of (1) ended, and the wave 5 of (1) forms. Now, the first entry wave of the lower level i of 5 is developing, within which a local correction is forming as the wave (iv) of i. If the assumption is correct, the asset will grow to the area of 157.35–165.00. In this scenario, critical stop loss level is 133.90.

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