Technical Setup: AT&T INC (NYSE:T) Appears Poised for a Breakout.

Our stock screener has spotted AT&T INC (NYSE:T) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:T.

Analyzing the Technical Aspects

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

We assign a technical rating of 10 out of 10 to T. Both in the recent history as in the last year, T has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that T is one of the better performing stocks in the market, outperforming 96% of all 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 31 other stocks in this industry. T outperforms 83% of them.
• T is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so T slightly outperforms the market at the moment.
• In the last month T has a been trading in the 25.10 - 29.03 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Check the latest full technical report of T for a complete technical analysis.

How do we evaluate the setup for T?

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. T currently holds a 7 as its setup rating, suggesting a particular level of consolidation in the stock.

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 26.96, a Stop Loss order could be placed below this zone.

Trading setups like T

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.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.