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Fan Yang

AT&T (T) Approaching Critical Support Just Above $30

AT&T $T has been sliding sharply in 2017. We can see on the weekly chart that price fell from about 43 to about 33 by the end of the 11/7 session. 

T Weekly Chart

(click to enlarge)

- The weekly chart shows the bearish retreat in 2017.
- We can also see that if price comes to the 31-31.80 area, T will be in a common support pivot area. 
- The weekly RSI is around 30, below which would be an oversold signal. 
- If price is around 31 and the RSI is under 30, we should consider a possible rebound in AT&T.
- Then, a bullish outlook from there should be first limited to the 36 area, with 38.50 as the next key resistance area.