AT&T’s stock price (T) edged slightly lower in latest intraday trading, as the stock attempts to gather positive momentum that may help it breach the stubborn pivotal resistance of $29.00. This dip comes while leaning on the support of a short-term rising trend line, with ongoing positive pressure from trading above the 50-day SMA. We also note that the stock had previously vented off its apparent overbought saturation on the Stochastic.

Therefore we expect the stock to rise in upcoming trading, as long as the support of $27.60 holds on, targeting the mentioned resistance of $29.00 in preparation to attack it.

Today’s price forecast: Bullish

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