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

By Shiri Gupta

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 $38.31 and $38.41 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.

In the past 52 weeks, At&T Inc share prices have been bracketed by a low of $29.67 and a high of $39.58 and closed yesterday at $38.59, 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.3%.

Based on a current price of $38.59, At&T Inc is currently 11.2% above its average consensus analyst price target of $34.27. The stock should find initial support at its 50-day moving average (MA) of $38.45 and further support at its 200-day MA of $36.03.

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 tracking the current trend status for At&T Inc and will alert subscribers who have T in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle at&t inc

Ticker(s): T