T unable to break through key resistance level


AT&T Inc. (T) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team

Highlights

T pushes through 20-day moving average
T unable to break through key resistance level
T fails to close above 200-day moving average
T pushes through previous session high

Overview

T finished Monday at 35.64 gaining $0.50 (1.42%). Closing above Friday's high at 35.37, the share confirms its breakout through the prior session's high having traded $0.45 above it intraday.

Daily Candlestick Chart (T as at Apr 16, 2018):

Daily technical analysis candlestick chart for AT&T Inc. (T) as at Apr 16, 2018

Monday's trading range was $0.60 (1.7%), that's slightly below last trading month's daily average range of $0.71. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Unable to break through the key technical resistance level at 35.77, AT&T Inc closed below it after spiking as high as 35.82 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After spiking up to 35.82 during the day, the market found resistance at the 200-day moving average at 35.81.

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. T managed to break above the 20-day moving average at 35.15 today for the first time since April 10th.

Selling might speed up should prices move below the nearby swing low at 35.02 where further sell stops could get activated.


Market Conditions for T as at Apr 16, 2018

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Latest Report:

T finds buyers again around 29.60

Dec 17, 2018
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