ATT Inc.: wave analysis 07 December 2018, 08:43

ATT Inc.: wave analysis

07 December 2018, 08:43

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	30.51
Take Profit	34.28, 39.22
Stop Loss	29.29
Key Levels	27.50, 28.50, 29.29, 34.28, 39.22

Alternative scenario
Recommendation	SELL STOP
Entry Point	29.20
Take Profit	28.50, 27.50
Stop Loss	29.55
Key Levels	27.50, 28.50, 29.29, 34.28, 39.22

The price may fall.
On the 4-hour chart, a downward correction of the higher level developed as a wave (2). Now the wave C of (2) has ended by the truncation of the fifth wave of the lower level v of C, and the first entry wave (i) of i has formed within the wave (3). If the assumption is correct, the price will grow to the levels of 34.28–39.22. In this scenario, critical stop loss level is 29.29.


Main scenario
Long positions will become relevant during the correction, above the level of 29.29 with the targets at 34.28–39.22. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 29.29 will let the price go down to the levels of 28.50–27.50.