The price is in a correction and may grow.

On the daily chart, the downward wave of the higher level B ended, within which the wave (C) of B formed, and the upward wave C started. Now, the entry first wave of the lower level i of 1 has formed, and a local correction is ending as the second wave ii of 1. If the assumption is correct, the asset will grow to the area of 20.00–21.60. In this scenario, critical stop loss level is 15.30.

Shares of AT&T Inc., one of the largest American telecommunications conglomerates, are trading at 16.70.