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AT&T

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1T trade ideas

AT&T is in a BUY ZONE - but a drop below $30.50 could mean $26I am long T. I hold a 5% position in my retirement account as a blue chip dividend stock with potential growth (pending merger). I bought in two troughs, at $34 and $32. I have a mental stop loss at a close under $30.00, because a close under the buy zone likely means a break down to the bottom of my long-term channel. I don't see that happening and I expect additional consolidation between $30-$34 while the lawsuit with the US Government takes its course to allow the merger to proceed. I see the merger being allowed, AT&T will benefit substantially long-term, and my investment will continue to pay huge dividends moving into the long-term future. For the time being, look to see if 30.50 holds and if so, we could get back into the upper trend channel and back to $40. A lot has to happen for this to be so, and the 20-day is acting as HEAVY resistance to breaking out of this bearish downtrend. I see the risk/reward to buying at these levels about 3 to 1, with a higher probability of the upside hitting before my mental stop... and in the meantime, pay me my 5%. THIS IS NOT A RECOMMENDATION TO BUY OR SELL - THIS IS JUST MY OPINION BASED ON MY REVIEW OF THE CHART. I AM LONG T
NYSE:TLong
by IAmSpoli
1
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.
NYSE:TLong
by cpuzz1804
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
NYSE:TLong
by goodguy