Sep 15, 2020, 7:34:55 AM
ATT Inc.: wave analysis
The price is in a correction, a fall is possible.
On the 4-hour chart, a downward correction of the higher level developed as the wave (2), and the formation of the wave (3) started, within which the first wave of the lower level 1 of (3) formed, and a local correction develops as a 2 of (3). Now, the wave c of 2 is forming, within which the wave (iii) of c has formed. If the assumption is correct, the price will fall to the levels of 28.40–27.54. In this scenario, critical stop loss level is 30.16.
Main scenario
Short positions will become relevant during the correction, below the level of 30.16 with the targets at 28.79–27.54. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 30.16 will let the price grow to the levels of 31.90–33.22.
Scenario
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Timeframe
Weekly
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Recommendation
SELL
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Entry Point
29.05
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Take Profit
28.79, 27.54
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Stop Loss
29.25
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Key Levels
27.54, 28.79, 30.16, 31.90, 33.22
Alternative scenario
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Timeframe
Weekly
-
Recommendation
BUY STOP
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Entry Point
30.20
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Take Profit
31.90, 33.22
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Stop Loss
29.60
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Key Levels
27.54, 28.79, 30.16, 31.90, 33.22
