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IBM Corp., Elliot Wave Analysis

12/28/2022 10:12 AM

The price is in a correction, a fall is possible.

On the daily chart, the first wave of the higher level (1) of 5 develops, within which the wave 3 of (1) formed, a correction ended as the wave 4 of (1), and the wave 5 of (1) forms. Now, the first entry wave of the lower level i of 5 has formed, and a downward correction is developing as the second wave ii of 5, within which the wave (a) of ii has ended. If the assumption is correct, the price of the asset will fall to the area of 134.20–129.50. In this scenario, critical stop loss level is 152.95.

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