Will AT&T INC breakout?

We've identified AT&T INC (NYSE:T) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:T for further developments.

Insights from Technical Analysis

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Overall T gets a technical rating of 7 out of 10. In the last year, T was one of the better performers, but we do observe some doubts in the very recent evolution.

• Looking at the yearly performance, T did better than 84% of all other stocks. On top of that, T also shows a nice and consistent pattern of rising prices.
• T is part of the Diversified Telecommunication Services industry. There are 33 other stocks in this industry. T outperforms 78% of them.
• T is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so T is performing more or less in line with the market.
• The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.

For an up to date full technical analysis you can check the technical report of T

Looking at the Setup

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:T is 9:

Besides having an excellent technical rating, T also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 22.75, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for T in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.