AT&T rebuffed lower by trend line - Analysis - 13-08-2018

AT&T's stock fell in the intraday levels after touching the main downward short-term trend line, while a negative divergence forms in the Stochastic indicator as shown below the attached chart after it reached extremely overbought levels compared to the stock's movements, recording thereafter a loss of 0.71% in the last session, or 0.23 points, while leaning on the support of the 50-day SMA. 

Therefore we expect more losses for the stock, as long as the resistance of 32.80 holds on, targeting the support of 31.17.