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AT&T Showing Elliott Wave Impulsive Sequence

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AT&T Showing Elliott Wave Impulsive Sequence

AT&TShort term Elliott Wave view suggests that the decline to November 06 low 32.56 ended Cycle wave X.A rally from thereis unfolding asan impulse Elliott Wave structurewith extensionin 3rd swing higher and each leg has internal oscillations of 5 waves thus favoring it to be an impulse. These possible 5 waves move higher should end Minor wave 1 in an Impulse sequence or a wave C of aFLAT correctionfrom 10/25 low (33.34).In either case, after 5 waves move ends, the stock shouldpull back in 3 waves at least as theElliott Wave Theorysuggests.

Up from 32.56 low Minute wave ((i)) ended 34.45, Minute wave ((ii)) ended at 33.59 low, Minute wave ((iii)) ended at 37.52 on 12/04 peak. Below from there, Minute wave ((iv)) pullback in progress for the correction of 33.59 cycletowards 36.06-35.49 100%-161.8% Fibonacci retracement area. Then from there, as far as a pivot from 33.59 low stays intact the stock is expected to resume the upside to complete a 5 waves impulse in wave 1. Afterwards, stock should pull back in wave 2 to correct the cycle from 32.56 X low. We dont like selling it and we expect short-term buyers to appear in 36.06-35.49 area for a 3 wave bounce at least.

AT&T 1 Hour Elliott Wave Chart

AT&T Showing Elliott Wave Impulsive Sequence

Keep in mind that the market is dynamic and the view could change in the meantime. Success in trading requiresproper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry. Stop loss and take profit levels with high accuracy and allows you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader, register nowfor your Free 14 day Trial.

AT&T Showing Elliott Wave Impulsive Sequence

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About the author  (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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