AT&T let's go Even though at & t's streaming service (HBO) is not yet a great success compared to netflix and disney. The company is currently heavily undervalued, as a result of which the dividend % has also been increased to 7%. The best thing about at & t is that it keeps its wireless and cable customers when they also can leave. Also the new eco system with which they connect new customers to multiple services is good for the growth.
T trade ideas
AT&T - using Gann Time squaring PriceGann talked about squaring time and price. Basically you use the price of a major low, which in this case, the low of Oct 29, 2020 @ 26.35
So you count the number of calendar days by 26 days and you get the minor top of Nov 24. Gann says you would expect a turn on this date. Whether it's a big turn or small turn, is another topic. But this goes to show how powerful this technique is. You can repeat the count forward. Next count would be Nov 19 (saturday) so we would expect a low happening on Nov 18.
Good to go long .. since the main trend is up.
T MovesBased on what I see from the Daily, 1 hr, and 15 mins. T looks like it will consalidate at the levels its on. It broke my daily, 4hr, 1hr wedge, BUT it did violate my 1 hour support (red line). On all timeframes, the RSI isn't over bought. My one big concern is the EMA 9 has crossed below the 20 EMA on the daily and 4 hr. So far they have respected the current support. On the 1 hr and 15 mins, the 9EMA has barely got below the 20ema. They respect the current charted support. Based on the multiple candles hitting this support, I Believe it won't go much lower and continue to go sideways until some big news (HBO max Wonder Woman 2 on Christmas Day). I have learned learned my lesson trading the news, and based on what I charted plus the state of the world and what HBO can Bring (ATT owns them) we could see a push forward to the 32-33 range by 1/15.
T - EW analysis - sell and buy set upT - IT is in double zigzag (or within impulse cycle) up. Expecting correct down in 4th of C (or 3rd) wave around 30 level. It can be sell on bounce for c of 4th wave down thereafter buy that zone for target above 32.50 as the final 5th wave up.
Give thumbs up if you really like the trade idea.
T appears to be running for now Awesome price moments over a bit of time. Volume increasing with last trading volume driving the price up almost nu-opposed at this time.
The first black line is likely to be met and is where I am going to sell half my position. That will likely make the remainder of my position free.
I had been accumulating LEAP Call options for sometime now and they are running now.
$T | AT&T Large Monthly Pennant & 4HR Inverse Head and Shoulders$T is trading within a massive bullish pennant on the monthly chart.
Price recently found support at the bottom of the pennant structure & also at the horizontal demand zone.
On the 4 hour chart volume has increased and price is breaking out of an inverse head and shoulders pattern.
Potential Catalysts:
- Dividends Early January (>7% annual yield)
- Rumors that AT&T is closing deal to sell DirectTV
- Warner Bros announced it will send all of its movies to HBO Max the same time they are released in theaters
Targets: $30, $31, $31, $35
Let me know what you think in the comments!