AT&T INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 17.30 |
| Take Profit | 18.10 |
| Stop Loss | 16.90 |
| Key Levels | 15.50, 16.50, 16.80 , 17.00, 18.10, 18.50 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 16.70 |
| Take Profit | 15.60 |
| Stop Loss | 17.00 |
| Key Levels | 15.50, 16.50, 16.80 , 17.00, 18.10, 18.50 |
Shares of AT&T Inc., one of the largest American telecommunications conglomerates, are trading at 17.00.
On the daily chart, the price is correcting, trying to reverse at the support line of the ascending corridor with dynamic boundaries of 18.50–16.50.
On the four-hour chart, the quotes tested the support levels of the global channel at 16.80 and 16.50, and the likelihood of a reversal and growth to the year’s high of 18.10 increased significantly. If the price breaks the support level and leaves the channel, it may reach 15.50.
Technical indicators are holding a buy signal: fast EMA on the Alligator indicator are above 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 17.30, with the target at 18.10. Stop loss – 16.90. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 16.70, with the target at 15.60. Stop loss – 17.00.
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