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AT&T Inc (T) “On a long-term technical basis, the stock (T) is trading below its 200-day moving average which implies it is in a negative trend. However, the stock has broken through an important trendline at 36.61 suggesting the next level of support is 34.97. The long-term uptrend has now turned neutral.
The stock has support at 34.97. The stock will meet resistance at 36.22 and 38.24. If the stock breaks up through resistance at 36.22 then it will probably continue higher to 38.24. The 200-day moving average is at 36.22. This will also act as resistance. If the stock closes below 34.97 a negative trend change is probable. Look for the stock to fall to the level where it started prior to the latest big upmove. The stock is neutral according to the Stochastic Indicator (42.62).”
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