Home
News
- 1 AT&T stock price (NYSE: T) fell 3.24% in the current month and is trading near a 52-week low
- 2 T stock price is trading below the 50-day EMA and 200-day EMA.
- 3 AT&T Inc. stock is in a strong downtrend.
AT&T stock price (NYSE: T) is in a correction phase and declining by forming lower low swings. It is down by 25% on a YTD basis and is trading near to the 52-week low.
T stock price is trading below the 50-day and 200-day EMA showcasing a strong downtrend. However, the current price has gone far away from both the EMAs so the short-term relief rally may trigger anytime.
In the mid of July, AT&T Inc. stock broke down the important support of $14.50. This triggered a further downfall and prices hit a 52-week low.
Later, prices showed a minor bounce and a surge in the buying volume was also visible. However, the up move is due to a short squeeze and prices again faced rejection from $15.00.
AT&T Inc. released the previous quarter’s earnings on July 26, 2023. It met the EPS estimate by 4.74% but missed the revenue estimate by 0.14%. The stock price did not react much and continues to decline.
AT&T stock price closed the previous session at $14.05 with an intraday rise of 0.29%. The market capitalization stands at $100.44 Billion.
Is bullish Trend Reversal Possible in AT&T Stock?
AT&T stock price (NYSE: T) is in a downtrend and formed a highly bearish pattern. The broader market indices are reversing down which is negatively impacting the sentiment of investors.
As of now, no signs of a bullish trend reversal are visible in the stock. However, if the pullback came and T stock price managed to climb above the $15.00 level. Then the initial signs of a bullish trend reversal might be visible.
On the other hand, if the price drops below $13.00 support then the next phase of downfall might trigger in the AT&T stock.
T Stock Price Bearish on Multiple Time Frames
T stock price is bearish on daily, weekly, and monthly time frames. It shows the dominance of bulls on the higher levels. Till AT&T stock trades below $16.00, any short-term pullback will face difficulty to hold the higher levels.
The MACD curve slopes sideways indicating prices are likely to consolidate for some more time in a narrow range. The RSI at 39 also denotes weakness and bears seem to be strengthening their grip.
Conclusion
AT&T stock price (NYSE: T) is trading near the 52-week low but no signs of a recovery are visible. The technical analysis suggests that T stock is in bears’ grip and the probability of taking a U-turn remains low.
Technical levels
- Resistance levels: $15.00 and $16.00
- Support levels: $13.44 and $13.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
