Don't Ignore This Chart

AT&T (T) Gets High Enough For A Signal


AT&T (T) continues to push higher. This week the SCTR has reached 75 again. Is the internet of things starting to kick in for the Telco's? Check out the rising lows on the consolidation for AT&T. 5 of the last 7 weeks have had big volume on up weeks.

The MACD has started a sustainable rise and looks set to continue. This $34.50 level in orange on the price plot continues to be resistance. Last week it broke above, but at the time of writing we are back at $34.59. The chart looks bullish and 2 weeks of closing above $34.50 would probably confirm the breakout with a tight stop underneath.

Good trading,
Greg Schnell, CMT

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018). Learn More
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