Short term view - AT & T : The MACD is rising.
The trend has been momentarily interrupted by a correction. It approaches the resistance at $33.70, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at $29.90. The invalidation level is below $33.70.Arguments :
- The support has been reached, it causes the bounce.
- Prices are pulling back to the major resistance level (previously a support). The fall will resume afterwards.
- The MACD is rising.
- The moving average is capping prices.
- Prices will test the quality of bearish gap. As long as it remains open, consequences will be bearish.
AT&T is a holding company. Through its subsidiaries, the company is a provider of telecommunications, media and technology services. The company's Communications segment provides wireless and wireline telecom, video and broadband services. The company's WarnerMedia segment includes media and entertainment businesses that principally develop, produce and distribute feature films, television content, and other content globally; and operate digital media properties. The company's Latin America segment provides entertainment services in Latin America and wireless services in Mexico. The company's XANDR segment relies on using data from its customer relationships, to develop digital and video advertising that is relevant to consumers.
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