T breaks below 20-day moving average


AT&T Inc (T) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
T breaks below 20-day moving average
T finds buyers at key support level
T breaks below previous session low
T falls to lowest close since June 27th
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

T finished the week -3.09% lower at 31.67 after losing $0.56 (-1.74%) today. Today's closing price of 31.67 marks the lowest close since June 27th. Closing below Thursday's low at 31.90, AT&T Inc confirms its breakout through the previous session's low having traded $0.40 below it intraday.

Daily chart for T
Volatility

Friday's trading range was $0.42 (1.32%), that's slightly below last trading month's daily average range of $0.51. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

After trading as low as 31.50 during the day, the market bounced off the key support level at 31.61. The failure to close below the support could increase that levels importance as support going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The stock broke below the 20-day moving average at 32.15 today for the first time since July 11th.

Order Flow

With prices trading close to this year's low at 31.17, downside momentum might speed up should the share break out to new lows for the year. Further selling could move prices lower should the market test June's close-by low at 31.40.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for AT&T Inc
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Black Candle TQ Pro Members Only
4 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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