IBM (1h) retraced 0.382 ($ 169.58), calculated from "Minor"-wave 3! The other levels are the measured results from the "Minute"-wave a of this ZigZag correction pattern the stock is in. Minimum retracement for a wave "c" is 0.618 of wave "a" (identical with 0.382) or 1.000 ($ 166.10) or 1.618 ($ 160.00), although reaching the last level seems to be unrealistic. Wait till the price has touched the supprt-line at 1.000! (Nice opp. for conservative investors...)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.