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IBM Corp., Elliot Wave Analysis

3/8/2023 10:03 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) formed, a correction ended as the wave 4 of (1), and the wave 5 of (1) forms. Now, the entry first wave of the lower level i of 5 has formed, and a downward correction has ended as the second wave ii of 5, within which the wave (c) of ii has formed. If the assumption is correct, the asset will grow to the area of 153.20–165.00. In this scenario, critical stop loss level is 127.48.

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