ATT Inc.: wave analysis
31 January 2017, 09:18
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 41.76 |
| Take Profit | 39.60 |
| Stop Loss | 42.50 |
| Key Levels | 39.60, 43.00, 44.00, 45.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 43.10 |
| Take Profit | 44.00, 45.00 |
| Stop Loss | 42.50 |
| Key Levels | 39.60, 43.00, 44.00, 45.00 |
The correction continues. The price can lower.
The upward momentum as a first entering wave (i) within the third wave of the highest level has formed. Locally a downward correction as a the wave (ii), within which the downward momentum (а) has formed and the wave (b) has ended, is forming. If the assumption is correct, the price will lower within the wave (c) to the level of 39.60. The level of 43.00 is critical for this scenario.
Trading scenario
Sell the stock from the correction below the level of 43.00 with the target at 39.60.
Alternative scenario
The breakout and the consolidation of the price above the level of 43.00 will let the price to grow to the level of 44.00-45.00 and higher within the upward trend.
The upward momentum as a first entering wave (i) within the third wave of the highest level has formed. Locally a downward correction as a the wave (ii), within which the downward momentum (а) has formed and the wave (b) has ended, is forming. If the assumption is correct, the price will lower within the wave (c) to the level of 39.60. The level of 43.00 is critical for this scenario.
Trading scenario
Sell the stock from the correction below the level of 43.00 with the target at 39.60.
Alternative scenario
The breakout and the consolidation of the price above the level of 43.00 will let the price to grow to the level of 44.00-45.00 and higher within the upward trend.
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