AT&T may rise to 24.00 - 24.50

Our pivot point stands at 20.4.

Our preference

As long as 20.4 is support look for 24.

Alternative scenario

The downside breakout of 20.4 would call for 19.7 and 19.2.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 21.785 and 21.0848). Finally, AT&T is trading above its upper Bollinger band (standing at 22.42).

Supports and resistances

25 **

24.5 *

24 **

23.6

22.49 (USD-last)

20.8

20.4 **

19.7 *

19.2 **

Number of asterisks represents the strength of support and resistance levels.