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Possible Bearish Inside Day Candle Pattern Detected for At&T Inc (NYSE:T)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in At&T Inc (NYSE:T) based on the price action in the company's shares. Yesterday's price range of $30.45 and $30.70 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of At&T Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 27.9% exists for At&T Inc, based on a current level of $30.59 and analysts' average consensus price target of $39.14. At&T Inc shares should encounter resistance at the 200-day moving average (MA) of $32.11 and support at the 50-day MA of $30.08.

Over the past year, At&T Inc has traded in a range of $26.80 to $39.29 and closed yesterday at $30.59, 14% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.

AT&T Inc. is a communications holding company. The Company, through its subsidiaries and affiliates, provides local and long-distance phone service, wireless and data communications, Internet access and messaging, IP-based and satellite television, security services, telecommunications equipment, and directory advertising and publishing.

SmarTrend is monitoring the recent change of momentum in At&T Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of At&T Inc in search of a potential trend change.

Keywords: bearish am inside day candle at&t inc

Ticker(s): T