T closes below its opening price unable to hold early session gains


AT&T Inc. (T) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team

Highlights

T closes below its opening price unable to hold early session gains
T finds buyers at key support level
T unable to break through key resistance level
T fails to close above 20-day moving average
T finds buyers again around 32.10

Overview

T ended Thursday at 32.52 gaining $0.30 (0.93%) on high volume. Trading $0.38 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (T as at Jun 14, 2018):

Daily technical analysis candlestick chart for AT&T Inc. (T) as at Jun 14, 2018

Thursday's trading range was $0.88 (2.7%), that's far above last trading month's daily average range of $0.54. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.

After trading as low as 32.10 during the day, AT&T Inc bounced off the key support level at 32.14. The failure to close below the support might increase that levels importance as support going forward. Unable to break through the key technical resistance level at 32.81, the share closed below it after spiking as high as 32.98 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move lower than 32.21 in the prior session, the market found buyers again around the same price level today at 32.10. After spiking up to 32.98 during the day, T found resistance at the 20-day moving average at 32.78.

While the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.


Market Conditions for T as at Jun 14, 2018

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T still stuck within tight trading range

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