ATT Inc.: wave analysis
10 December 2019, 09:50
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 38.04 |
| Take Profit | 35.94, 34.76 |
| Stop Loss | 39.66 |
| Key Levels | 34.76, 35.94, 39.66, 41.00, 43.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 39.70 |
| Take Profit | 41.00, 43.00 |
| Stop Loss | 39.10 |
| Key Levels | 34.76, 35.94, 39.66, 41.00, 43.00 |
The price is in a correction, a fall is possible.
On the 4-hour chart, an upward trend develops within the first wave of the higher level 1 of (3). Now, the third wave of the lower level iii of 1 has formed, and a local correction is developing as the wave iv of 1, within which the wave (b) of iv has ended. If the assumption is correct, the price will fall to the levels of 35.94–34.76. In this scenario, critical stop loss level is 39.66.
Main scenario
Short positions will become relevant below the level of 39.66 with the targets at 35.94–34.76. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 39.66 will let the price grow to the levels of 41.00–43.00.
On the 4-hour chart, an upward trend develops within the first wave of the higher level 1 of (3). Now, the third wave of the lower level iii of 1 has formed, and a local correction is developing as the wave iv of 1, within which the wave (b) of iv has ended. If the assumption is correct, the price will fall to the levels of 35.94–34.76. In this scenario, critical stop loss level is 39.66.
Main scenario
Short positions will become relevant below the level of 39.66 with the targets at 35.94–34.76. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 39.66 will let the price grow to the levels of 41.00–43.00.
No comments:
Write comments