ATT Inc.: wave analysis 25 May 2018, 09:41

ATT Inc.: wave analysis

25 May 2018, 09:41

Scenario
Timeframe	Weekly
Recommendation	SELL
Entry Point	32.77
Take Profit	29.80, 29.00
Stop Loss	33.57
Key Levels	29.00, 29.80, 33.57, 36.36

Alternative scenario
Recommendation	BUY STOP
Entry Point	33.60
Take Profit	36.36
Stop Loss	32.70
Key Levels	29.00, 29.80, 33.57, 36.36

The price can fall.
On the 4-hour chart, the downward correction of the higher level is developing as a wave (2) of the higher level. Now the fifth wave of the lower level v of C of (2) is forming, within which the wave (iii) of v is developing. If the assumption is correct, the price will fall to the levels of 29.80–29.00. The level of 33.57 is critical and stop-loss for this scenario.


Main scenario
Short positions will become relevant during the correction, below the level of 33.57 with the targets at 29.80–29.00. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 33.57 will let the price grow to the level of 36.36.