T trade ideas
T near buy entryAccording to MACD, RSI and Stochastic, plus a pitchfork and Fibonacci, T's actual price would be a good entry level for a long term investment.
at&t potential buying opportunitybuy @~36.00 zone (red). Previous structure aligning with 61.8% fib retracement making a good case for entry.
People who want to invest instead of trading can be happy for the 5%+ dividend yield.
AT&Twww.washingtonpost.com
***WEEKLY CHART***
BUY FOR NOW (TEMP):On daily chart ATT is a buy as it is hitting the LIGHT green support line from 2015 Aug low.
SHORT (IN WEEKLY CHART). The upper limit is Two red lines Dotted one and solid one. Once it touches those lines re-evaluate the situation and then you CAN GO SHORT. The support line will be on weekly chart is from 1984 low the SOLID DEEP GREEN LINE AROUND $25-$30 ZONE.
Looking for a Triangle breakout gap up in T tomorrowI'm interpreting T on the 15 min chart to be a Leading Diag with a Contracting Triangle in the Wave B position.
So looking for a gap up tomorrow morning and to get long on any clear 3 wave correction, perhaps into 39.43 area at that purple dash channel 50% line, also near the Triangle descending upper trendline.
Trading for a move up into the Red upper channel line near the Fib arithmetic expansion up to 40.64.
I am not long yet because I saw this trade too late in the day and I only had 2 minutes to enter in the order.
I was looking to go 39.36 entry with a stop at 39.02 outside the lows of the preceding triangle for a shot at 2.7R reward ratio.
So because of that triangle in the Wave b position, and it cannot be in wave 2 position, I interpret the overall hourly structure as still corrective and anticipate that if T turns around at 30.64, it will see lower lows below 38 shortly. Possibly into 36 on the 4 hour chart.
T has been making a potential Leading DiagAfter the preceding C leg short trade to target the spike formed on the low.
Subsequent price action in the past 2 days has been sideways, but could be a Leading Diag wave 1 up.
So wave 2 pullback coming shortly on the 15 min chart here, maybe into 38.85 or .70.
I like the A-TriangleB-C preceding pattern into channel support as a recount from my previous interpretation.
Oscillators are behaving as if inside a triangle or Diagonal.
I put higher probability of an eventual breakout to the upside here to contradict a move down to 36.
The channel geometry from the 4 hour chart is evident at the Red oval.
The divergence and oscillation upward in RSI in this 15min timeframe.
The clear 5 wave C leg termination pattern into an anticipated (Z) leg down.
A milestone countable 7 bear waves ABCXABC on the 4 hour chart.
I think it's a good potential for a strong Bullish wave 3 coming up.
The larger 4 hour correction may have ended.
AT&T impulse wave C up for decline in larger structureThe previous short I was looking for on a break below the ascending triangle trendline never triggered.
The price structure is still a triangle and I put probabilities on what was originally my alternate count.
So A-TriangleB-C up into 41.50 - 41.80.
5 waves into wave C with divergence into the wave (v) of C.
Arithmetic symmetry is at 41.80 for throw-over, trendline is near 41.50.
Triggering short on a strong bear move back below 41.23 ascending Grey trendline.
Stops are even handle behind wherever the C wave high comes in. Maybe 41.91
And then anticipated tradeable Bear move into 38.70.
T BREAKS 200 MA. RETEST 39.64. IF BEARISH TARGET 37.78.T breakthrough 200 MA.
Will see some pullback to 39.64 and back down to 37.78. Checkout for EARNING ANNC.
T BREAKS 200 MA. RETEST TO 39.64. MAY DOWN TO 37.78 SUPPORT.T trades down toward 37.78 strong support and breakthrough 200 MA.
Will see some pullback to 39.64 and back down to 47.78. Checkout for EARNING ANNC.
AT&T long bias with new daily demand zones being createdWeekly demand in control at 38.68 creating new areas of demand on the daily. Price fell short of retracing to the long lower at weekly demand distal line. Long bias a new areas of demand. Potentially creating the base for a new Daily demand at 41.46
bearish countit's probably too early to label the move from July top as smaller degree i-ii-iii-iv-v sequence, but the retire decline structure so far looks impulsive
AT&T forming a triangle for last leg down in sequenceI count a larger WXY pattern within a channel. Should be last move down into support near lower channel line. There's a Fib confluence from the triple top highs near 41 at 37.68 as a target. Yields a 2.5:1 reward.
Short trade trigger below the small triangle ascending trendline near 39.68.
It's usually poor EW trading to use the e wave or c wave highs as a stop level. Stops are supposed to go behind the a wave highs. But in this case I will use the e wave highs as I don't want to see a symmetrical rally up near 41.50 as an A-triangle B-C pattern (alternate count) and want to stop out below 40.50 if I'm wrong. I'll consider reloading short again near 41.50 if the alternate count comes true after trigger.
RSI is holding below Bearish oscillation zone and nothing overly bullish looking.
T long term viewA monthly close above $44 would confirm the break of the resistance. Otherwise, not looking too bullish.
AT&T possible final 5th wave daily and weekly upAnticipating a possible move up in AT&T (T) to 44.50 mirror projection based on preceding milestones and 4th wave lows.
Or the Rally is over and look out below for targets below 31.
There is a pretty clear EW set of outcomes for this situation from process of elimination.
Either I've counted wrong or there's one more leg up.
Pros:
Clear preceding Impulse pattern UP
Decline in 3 waves
Possible EW count with 5th wave remaining.
Weekly timeframe mirror projection exceeded in Orange box.
Daily timeframe mirror projection not achieved yet as wave 5 target 44.50.
Price at Upper Fib cluster at 40.59 using the wave b (as labeled) high for a starting milestone.
Secondary Lower Fib cluster at 39.65 sitting right at the wave (3) highs
In a 3 wave geometric channel from the preceding wave 4 of one lesser degree.
Oscillators making hourly Bullish W patterns.
Cons:
RSI clearly in Bearish territory on Daily chart.
Current momentum signature and hourly pattern, and EW rules show that
price can fall as low as 39.20 before invalidating a Bullish outlook
which is questionable Risk control.
Trade:
Long 41.80 to 44.50
Given the possible pattern outcomes from what is currently showing:
Anticipate that Price breaks the Red channel mid line to the Upside.
Or it breaks below 39.65 and keeps going below 31.
Alt count is in Teal color Roman. I see this as less probable because wave v in this scenario did not make a new high and leaves an unbalanced 7 waves up in the last rally into the highs when viewed on the 2 hour chart.
Momentum and larger proportion of the current correction are Ugly at the moment, but the fact that it's finding support at the upper Fib cluster with respect of that Red channel drawn from the preceding 4th is something that jumps out at me.
DTI8 Posicion LargaHay una tendencia alcista desde hace unas semanas, esto apoyando con un analisis de medias mobiles y MACD me lleva a tomar una posicion larga en AT&T. A pesar de eso hay que ser conservador ya que el mismo MACD muestra que la tendencia lentamente se va revirtiendo pero todavia se puede obtener un rendimiento al alza.
Double Top Coming!Check out the debt on AT&T's balance sheet! No good if rates go up! Short term long, however.
T Bearish CrabWhen I see BIG BEARISH PATTERNS ACROSS THE BOARD as this chart of a Bearish Crab in AT&T (T), I am defensive! Many others in Dow Industrials!
