AT&T buoyed by important support - Analysis - 20-07-2017

AT&T's stock (T) rose in the intraday levels, scoring a profit of 0.39% in the last session, or 0.14 points, as the stock recovers some past losses, after the important support of 35.91 held on, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 30.97 to 43.89), countered by negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, especially if the support of 35.91 was breached, targeting the next one at 34.02, which represents the ratio 78.6% of the same retracement levels.