AT&T (T) share's price action has been sideways an then bearish in 2017. The bearish swing appears to be extending as we began the first trading day of May, a scenario we were anticipating for AT&T last week. AT&T (T) Daily Chart(click to enlarge)Monitoring 38.00:- Price action is within a sideways consolidation since 2016. It is also part of a bearish correction that started in 2017. - But, the market is NOT bearish in the long-term.- Therefore, we should still respect key support factors and there are some around the 38.00 handle.- 37.75-38.20 is a support/resistance pivot area and there is also a rising trendline. - If we see price stall here and create a bullish divergence with the RSI, we should anticipate a significant bullish reversal with at least the 41.00 handle in sight.