ATT Inc.: wave analysis

22 January 2019, 09:31

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	30.94
Take Profit	34.28, 39.33
Stop Loss	27.95
Key Levels	24.00, 25.03, 26.78, 34.28, 39.33

Alternative scenario
Recommendation	SELL STOP
Entry Point	26.70
Take Profit	25.03, 24.00
Stop Loss	27.30
Key Levels	24.00, 25.03, 26.78, 34.28, 39.33

The price is in correction and may grow.
On the 4-hour chart, a downward correction of the higher level developed as the wave (2). Now the formation of the third wave (3) has begun, within which the first entry wave of the lower level (i) of i of 1 of (3) has formed, and the local correction (ii) of I is developing. If the assumption is correct, after the end of the correction the price will grow to the levels of 34.28–39.33. In this scenario, critical stop loss level is 26.78.


Main scenario
Long positions will become relevant during the correction, above the level of 26.78 with the targets at 34.28–39.33. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 26.78 will let the price go down to the levels of 25.03–24.00.