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Fan Yang

AT&T (T) Sliding Towards a Critical Support Area

The stock price of AT&T (T) has been moving sideways so far in 2017, as we can see on the daily chart.

AT&T (T) Daily Chart

(click to enlarge)

40.25-43 Range:
- As we can see on the above chart, price has been trading between 40.40 and 43 in 2017.
- After failing to reach 43 the last few times, price is again approaching the range support in the 40.24-40.40 area. 
- It should be noted that there is also support below this area around 39.60. 
- Essentially, I think we should anticipate support again if price slides to 40.00, especially if the RSI and price shows a bullish divergence like it did in Oct-Nov. 2016.