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

By Nick Russo

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. Today's price range of $38.79 and $38.99 is within yesterday'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.

At&T Inc share prices have moved between a 52-week high of $39.58 and a 52-week low of $28.92 and are now trading 34% above that low price at $38.84 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

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.

Based on a current price of $38.84, At&T Inc is currently 11.8% above its average consensus analyst price target of $34.27. The stock should discover initial support at its 50-day moving average (MA) of $38.51 and subsequent support at its 200-day MA of $35.37.

SmarTrend recommended that subscribers consider buying shares of At&T Inc on July 26th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.91. Since that recommendation, shares of At&T Inc have risen 15.2%. We continue to monitor T for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle at&t inc

Ticker(s): T