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AT&T (T) Breaks Through Resistance at $36.26
Mar 22, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of AT&T (NYSE:T) opened today above their pivot of $36.14 and have already reached the first level of resistance at $36.26. Analysts will be watching for a cross of the next upside pivot targets of $36.37 and $36.60.
Over the past year, AT&T has traded in a range of $29.95 to $38.58 and is now at $36.30, 21% above that low. The 200-day and 50-day moving averages have moved 0.12% higher and 0.26% higher over the past week, respectively.
Based on a current price of $36.30, AT&T is currently 0.6% above its average consensus analyst price target of $36.09. The stock should discover initial support at its 200-day moving average (MA) of $35.56 and subsequent support at its 50-day MA of $35.27.
SmarTrend recommended that subscribers consider buying shares of AT&T on January 31st, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.72. Since that recommendation, shares of AT&T have risen 4.1%. We continue to monitor T for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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