Ridley showed us "a lot" in the trailer, that is to the extend of what we think we know about the movie.
We saw the xenomorph and we think that is the climax of it all, but lets be honest no director/producer will reveal his trumph card
in a trailer.
There could be a surprise waiting in the shadows for us, maybe a help from Rapace in the end maybe a gruwesome detail about Shaw,
maybe even a bigger xenomorph, but i dont think we have seen the big kahuna yet. (no matter what test screening leaks said)
My view on this is: the away team gets rekt big time, Billy gets facehugged by the egg in the trailer by or David or a Walter.
Billy gives birth to the xeno. Covenant sends rescue team, the rescue team makes it to the citadel ( then you see the scene with the xeno coming from the ceiling) the black guy was on the Covenant and now on the run from that xeno, althoug he sits there with someone else who is not reckognizable, only the body with the open chest wich could be the horror reveal of what David has been up to.
They fight that xeno on the planet maybe defeat it and maybe not, but on the Covenant it emerges again in the shower, and they fight it again, but this time i think it will be the final act, if its not the same as the one on the planet then its a new one, and maybe the ending is,
the embryos on the Covenant are all infected, so that ending is probably gonna be shocking, and who will survive and who wont.