AT&T may rise to 20.30 - 20.60

Our pivot point is at 18.3.

Our preference

The upside prevails as long as 18.3 is support.

Alternative scenario

Below 18.3, expect 17.7 and 17.3.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 18.2045 and 17.5154). Finally, AT&T is trading above its upper Bollinger band (standing at 19.06).

Supports and resistances

21 **

20.6 *

20.3 **

19.9

19.11 (USD-last)

18.5

18.3 **

17.7 *

17.3 **

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