AT&T INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 15.70 |
| Take Profit | 16.70 |
| Stop Loss | 15.00 |
| Key Levels | 13.20, 14.00, 14.20, 15.00, 15.70, 16.00, 16.70 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 15.00 |
| Take Profit | 14.00 |
| Stop Loss | 15.50 |
| Key Levels | 13.20, 14.00, 14.20, 15.00, 15.70, 16.00, 16.70 |
Shares of AT&T Inc., one of the largest American telecommunications conglomerates, are correcting at 15.00.
On the daily chart, the price is trying to consolidate above the resistance line of the global corridor with dynamic boundaries of 16.00–14.20.
On the four-hour chart, the quotes are preparing for a new test of the high of November 3 of 15.70, after consolidating above which, they may reach 16.70. However, the ascending corridor may act as a Flag pattern, and then, the asset will decline to the year’s low of 13.20.
Technical indicators are holding a buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming corrective bars in the buy zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 15.70 with the target at 16.70. Stop loss – 15.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 15.00 with the target at 14.00. Stop loss – 15.50.
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