Traders, we are analyzing AT&T today as it has entered a phase in the Wyckoff model that is usually one of the most profitable runs.
The spikes in volume confirm some of our main accumulation events. The ones we have already passed are the Selling Climax, Automatic Reaction. I believe according to the volume spike, we are at the Secondary Test point before heading to Phase B of the model. My conservative estimates for the upthrust phase is right at/around $36 dollars.
Our stop loss for this trade will be right below the selling climax.
We should be watching for low volume and climbing prices until the upthrust, which should in theory have a really high volume spike indicating it's the top.
The spikes in volume confirm some of our main accumulation events. The ones we have already passed are the Selling Climax, Automatic Reaction. I believe according to the volume spike, we are at the Secondary Test point before heading to Phase B of the model. My conservative estimates for the upthrust phase is right at/around $36 dollars.
Our stop loss for this trade will be right below the selling climax.
We should be watching for low volume and climbing prices until the upthrust, which should in theory have a really high volume spike indicating it's the top.