Indications Suggest NYSE:T Could Be on the Verge of a 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.

Technical Analysis Observations

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Overall T gets a technical rating of 8 out of 10. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• Looking at the yearly performance, T did better than 80% of all other stocks. We also observe that the gains produced by T over the past year are nicely spread over this period.
• T is one of the better performing stocks in the Diversified Telecommunication Services industry, it outperforms 78% of 33 stocks in the same industry.
• 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.

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

Why is NYSE:T a setup?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:T has a 8 as its setup rating:

T has an excellent technical rating and 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 22.60, a Stop Loss order could be placed below this zone.

How can NYSE:T be traded?

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.

Of course, there are many ways to trade or not trade NYSE:T and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

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.