T trade ideas
T posed for potential bounce to back fill the gapSince it's last earnings, T has been taken to the wood shack and was beaten the crap out. But today's price action suggests that it may have seen a near term bottom should SPY behave "normally" in the coming days. I'm expecting it to go up to around 34 to test the bottom or top level of the gap, before deciding its further direction.
Position: initiated at 32.07, added at 31.83 and 31.73.
T is extending its wide balance area to find a buyerIf the volume profile of T tells the story, then it is developing a D shaped profile in the decline.
Which means the point of control is remaining up high and in the middle.
So it is then initiating downward to find a Buyer.
That buyer should be found where the last set of buyers initated before at the Pink lines.
Ideally, it checks out with growth model proportions downward from the current decline... And it does at the red Fib symmetry line for 200% at 30.00
Then there's that strong leg down from the all time highs to contend with.
The grey box could represent that same range extension at the top, projected into the future at the bottom.... COULD.
In any case, 30 is a great place to own T from for a few reasons.
1) it's where buyers last acted aggressively as fact - there was a huge rally last time price accumulated volume there, not a decline obviously - so must've been buyers.
2) the dividend payout would be pretty good down there
3) The decline D shaped profile is pure statistical distribution and price is likely to be pulled back up into recent fair value as lower prices apparently are not being as accepted as higher prices were. In 2017-18 anyways.
Looking at A T &TThere has been a 50% correction of T from the the rise since 2009. Is it over? It currently has a 6% dividend rate which could bring in support. There has been an upturn in volume which is encouraging. And the weekly RSI 14 looks encouraging. So I've taken a small position in my IRA account. But the time length for the correction is fairly short for the time it took for the rise so I would not be surprised to see one more drop to the .62 level. Process your way.
Here is some fundamental stuff for those who like that.
seekingalpha.com
seekingalpha.com
AT&T SHORT!I believe that a short is on the table here for you guys who like option contracts. Profitable trade in my opinion that might just take over 2 weeks for our TP to be achieved!
Let's Go.
I would jump in on this now if I'm being quite honest down to lows of 32.50, if we get turbulence whilst prices are heading towards this region I would still hold the trade as I think the prices could plummet even lower.
Volume 27.903K
EPS: 1.49
Market Cap: 222.938B
P/E: 24.42
Div Yield: 5.515.
TP: 32.50
Flag | Bullish Continuation | Andrew AponasI only have time to publish the chart right now however real quick: I think price is set to continue bullish on Monday, and if it clears the zone in blue directly above the last trading session it will indicate a continuation to the 0% line. Thank You, God Bless.