T’s Price May Be in An Uptrend, but RSI Suggests Caution

The Hourly View for AT&T

  • At the time of this writing, T’s price is down $-0.07 (-0.31%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as AT&T has now gone down 8 of the past 10 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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.

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The Daily View for AT&T

  • At the moment, T’s price is down $-0.28 (-1.3%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as AT&T has now gone down 5 of the past 5 days.
  • 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 50 day moving average, resulting in them with price now being below it. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
  • Divergence alert: Trend in T’s price and its RSI are diverging. T’s price is rising faster than its RSI.

Below is a daily price chart of AT&T.

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