AT&T (T): Could Start Rising IF This Pattern Completes

SUMMARY

Here is the long term chart for AT&T (T) where the white impulse waves made it the darling of Wall Street during the late 1990s. But then, with the docom bubble deflating, T never recovered even close the highs. I've labeled the correction as an ABCDE. However, do you see a pattern? Can you discern one? The ABCDE should help locating it.

I believe a very large ascending right triangle could be in progress as shown by the blue lines. IF this is correct, then price could generate a bull wick event by temporarily piercing the lower trend line before rising as shown by the white arrow. This rise should be in an impulse five wave set. So, would this be a good time to be buying or selling AT&T shares?

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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