ATT Inc.: wave analysis 06 August 2019, 09:28

ATT Inc.: wave analysis

06 August 2019, 09:28

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	33.48
Take Profit	35.33, 37.37
Stop Loss	31.95
Key Levels	26.78, 28.81, 31.46, 35.33, 37.37

Alternative scenario
Recommendation	SELL STOP
Entry Point	31.40
Take Profit	28.81, 26.78
Stop Loss	32.30
Key Levels	26.78, 28.81, 31.46, 35.33, 37.37

The price may grow.
On the 4-hour chart, the upward correction of the higher level develops as the wave (2), within which the wave A of (2) forms. Now, the wave v of A of the lower level is developing. If the assumption is correct, the price will grow to the levels of 35.33–37.37. In this scenario, critical stop loss level is 31.46.


Main scenario
Long positions will become relevant during the correction, above the level of 31.46 with the targets at 35.33–37.37. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 31.46 will let the price go down to the levels of 28.81–26.78.