AT&T chalks up new losses - Analysis - 23-10-2017

AT&T's stock (T) kept falling in the intraday levels, recording a new loss of 0.42% in the last session, or 0.15 points, amid negative pressure from the 50-day SMA, while settling above the support of 35.91, which represents the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 30.97 to 43.89). 

Therefore we expect more losses for the stock, targeting the support of 34.02, which represents the ratio 76.4% of the same retracement levels mentioned earlier, as long as it settles below 35.91.