ATT Inc.: wave analysis 13 August 2019, 10:41

ATT Inc.: wave analysis

13 August 2019, 10:41

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	34.47
Take Profit	35.33, 37.37
Stop Loss	33.85
Key Levels	30.00, 31.47, 33.20, 35.33, 37.37

Alternative scenario
Recommendation	SELL STOP
Entry Point	33.15
Take Profit	31.47, 30.00
Stop Loss	33.75
Key Levels	30.00, 31.47, 33.20, 35.33, 37.37

The price may grow.
On the 4-hour chart, an 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 33.20.


Main scenario
Long positions will become relevant during the correction, above the level of 33.20 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 33.20 will let the price go down to the levels of 31.47–30.00.