ATT Inc.: wave analysis 06 April 2018, 09:39

ATT Inc.: wave analysis

06 April 2018, 09:39

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	36.13
Take Profit	41.20, 43.50
Stop Loss	34.45
Key Levels	32.54, 34.40, 41.20, 43.50

Alternative scenario
Recommendation	SELL STOP
Entry Point	34.30
Take Profit	32.54
Stop Loss	34.90
Key Levels	32.54, 34.40, 41.20, 43.50

The growth of the price is expected.
On the 4-hour chart, the upward momentum is forming as a wave i of 3. Now the entering momentum of the lower level (i) of i has formed, and the downward correction (ii) of I has ended. If the assumption is correct, the price will grow within the wave (iii) of i to the levels of 41.20–43.50. The level of 34.40 is critical for this scenario.


Main scenario
Long positions will become relevant during the correction, above the level of 34.40 with the targets at 41.20–43.50.
Alternative scenario
The breakdown and the consolidation of the price below the level of 34.40 will let the price go down to the level of 32.54.