The Tide May Be Shifting for AT&T as it Crosses Above Its 200 Day Moving Average

The Hourly View for AT&T

  • At the time of this writing, T’s price is up $0.01 (0.03%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as AT&T has now gone down 4 of the past 5 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • 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 $-0.38 (-1.28%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 200 day moving average, resulting in them with price now being below it. 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.

Below is a daily price chart of AT&T.

T

Featured AT&T Idea From TradingView

Below is a trading comment entitled VERIZON VZ : DETAILED FUNDAMENTAL ANALYSIS | SHORT VIEW ⭐️ you may find interesting:

Despite the fact that VZ stock has consistently lagged behind the S&P 500, it is still a stock of interest to income-oriented investors because of its dividend yield. Nonetheless, if 5G wireless services once again lead to revenue and earnings growth, Verizon stock could become much more attractive.The problem is that competition in the 5G wireless market is foreseen to strengthen. T-Mobile US’s acquisition of Sprint has formed a more robust contender for Verizon Communications and AT&T. T-Mobile owns the most radio spectrum for 5G wireless services.Moreover, AT&T lately decided to merge its WarnerMedia division with Discovery. As a result, a reduced AT&T is assumed to have more funds to invest in 5G wireless technology and fiber services.VZ on May 3 sold 90 percent of its media and advertising business to Apollo Global Management for $5 billion. The deal is planned to conclude by the end of this year.Besides, Verizon stock was the top bidder in the recent state auction of the mid-band radio spectrum. Verizon spent $53 billion, including incentive payments to satellite operators and clearing costs. This spending will postpone the VZ stock buyback for several years.At its March 10 investor day, Verizon said it expects revenue growth of 4% or more in 2024 as the company expands 5G wireless services. The company forecasts revenue growth of 2 percent in 2021, the same as its previous forecast. The company says that growth will increase to 3% in 2022 and 2023.Now that Verizon owns enough 5G midrange spectrum, network development will be pivotal. Verizon plans to reach 175 million users by the end of 2022 with 5G services based on a medium-frequency spectrum that delivers faster data speeds.Also, Verizon stated that 5G mobile services will lead more consumers to switch to unlimited monthly plans. Currently, 61 percent of subscribers have unlimited data plans, up from 40 percent three years ago.Verizon also told analysts that it plans to use a 5G mid-band spectrum to provide fixed broadband services in homes. Currently,…

FOREXN1