AT&T trespasses SMA support - Analysis - 18-08-2017

AT&T's stock (T) fell in the intraday levels, recording a loss of 1.65% in the last session, or 0.63 points, and trespassing the support of the 50-day SMA, while almost leaning on the important support of 37.43, which represents the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 30.97 to 43.89), with negative signals from relative power indicators. 

Therefore we expect more losses for the stock, especially if the support of 37.43 was breached, targeting the next one at 35.91, which represents the ratio 61.8% of the same retracement levels.