AT&T Wave Analysis – 31 January, 2020

• AT&T reversed from support area
• Likely to rise to 37.80

AT&T recently reversed up sharply from support area lying between the key support level 36.5 (which has been reversing the price from September), 38.2% Fibonacci correction of the earlier upward impulse from July and the lower daily Bollinger Band.

The upward reversal from this support area stopped the earlier short-term impulse wave 3.

AT&T is likely to rise further toward the next resistance level 37.80 (low of the previous impulse wave 1 from the middle of January).