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Telecom Giant Looks For Support Ahead Of Earnings

Published 10/17/2017, 01:49 PM
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It's easy to see that telecom giant AT&T (NYSE:T) has been under selling pressure recently. The stock has been falling since it peaked in January at $43.03 a share. Today it's trading around $36. The pattern on the charts still remains weak as T trades below its 50- and 200-day moving averages.

Traders should now watch the $34 area as the next major support level, which is where the stock was defended in January 2016 and is likely to find new support when retested. Just remember that AT&T reports earnings on October 24.

AT&T Inc.

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