AT&T Does it Again: Heads Down for the 2nd Straight Day

The Hourly View for AT&T

  • Currently, T’s price is down $-0.08 (-0.36%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 100, 20 and 200 hour moving averages, resulting in them so that price is now turning below them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

AT&T’s hourly price chart is shown below.

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The Daily View for AT&T

  • At the moment, T’s price is down $-0.03 (-0.12%) from the day prior.
  • This is the 2nd day in a row AT&T has seen its price head down.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on AT&T. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between T’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in T’s price.

Below is a daily price chart of AT&T.

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Featured AT&T Idea From TradingView

Below is a trading comment entitled Usdcad positioning for long- risky you may find interesting:

Price has not t yet triggered our previous analysis, and the market makers are dropping the pair down for. a cheaper entry price.Inverse head and shoulders neckline coincides with trend lines breakout zone….massive buy pressure here.Note that TDI is still flashing sell but worty the risk 1:9 RRR if won…..we move.Like and Subscribe to get more timely analysis like this one……

LexyenHille