AT&T readies to pierce pivotal resistance - Analysis - 26-01-2023

AT&T's stock (T) rose in the intraday levels after turning to losses due to costs of restructuring, however it showed continued subscribers growth in the fourth quarter, sending the stock up 6.58% in the last session, or 1.26 points, and settling at 20.42, with trading volumes surpassing 73.5 million shares, above 10-day averages of 38.1 million shares. 

Technically,. the upward correctional trend dominates in the short term, with positive support from the 50-day SMA, coupled with positive signals from the RSI.

Therefore we expect more gains for the stock, targeting the pivotal resistance of 21.39, provided it settles above the support of 19.12. 

Expected trend for today: Bullish