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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 $31.62 and $31.80 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.

At&T Inc (NYSE:T) has potential upside of 23.7% based on a current price of $31.63 and analysts' consensus price target of $39.14. The stock should find initial support at its 200-day moving average (MA) of $31.29 and further support at its 50-day MA of $30.50.

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.

In the past 52 weeks, shares of At&T Inc have traded between a low of $26.80 and a high of $36.39 and closed yesterday at $31.63, which is 18% above that low price. The 200-day and 50-day moving averages have moved 0.07% lower and 0.18% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of At&T Inc on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.14. Since that recommendation, shares of At&T Inc have risen 6.0%. We continue to monitor T for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle at&t inc

Ticker(s): T