With flat trading since late March, a volatility contraction for AT&T (T) is causing the Bollinger Bands to narrow. Bollinger Bands do not provide a directional bias, but last week's high volume decline shows selling pressure picking up steam.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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