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AT&T Inc (T)”On a long-term technical basis, the stock (T) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has recently broken through an important trendline at 37.21 suggesting the next support level is at 36.66. This weakness suggests the long-term trend is turning neutral.
The stock has support at 36.66 and 34.06. If the stock breaks down through support at 36.66 then it will probably continue lower to 34.06. The stock will meet resistance at 37.21 and 39.43. If the stock breaks up through resistance at 37.21 then it will probably continue higher to 39.43. The 200-day moving average is at 35.52. This will also act as support. The stock is slightly oversold according to the Stochastic Indicator (33.91).”
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