Momentum Reversal? AT&T’s Heads Down for the First Time in 3 Days

The Hourly View for AT&T

  • Currently, T’s price is down $-0.04 (-0.2%) from the hour prior.
  • This is the 2nd hour in a row AT&T has seen its price head down.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. 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.

T

The Daily View for AT&T

  • At the moment, T’s price is down $-0.05 (-0.25%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Of note is that the 50 day changed directions on T; it is now pointing up. 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.

T

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