AT&T Wave Analysis – 08 April, 2020

• AT&T reversed from resistance area
• Likely to fall to 28.00

AT&T recently reversed down from the combined resistance zone located between the key resistance level 31.00 (former strong support from March) and the 38,2% Fibonacci correction of the previous sharp downward impulse C from last month.

The downward reversal from this resistance zone stopped the earlier impulse wave C from the start of April – which belongs to wave (B) from March.

Given the strength of the aforementioned resistance zone – AT&T is likely to fall further toward the next support level 28.00.