AT&T stock faces SMA

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Source: Dukascopy Bank SA


In December, the stock price for AT&T booked low levels in the 22.05/22.23 zone. However, on December 16 a recovery started, which recently reached above the 24.00 mark.

If the price continues to recover, it is highly likely set to find resistance in the 50-day simple moving average near 24.50. The simple moving average has been acting as resistance, since the stock passed below it in May. Most notably, the stock price failed at two attempts at passing the SMA in September, which were followed by a sharp decline from the 27.50 level to 25.00. A potential decline might look for support in the December low level zone at 22.05/22.23.

On the other hand, a passing above the 50-day simple moving average would leave the price with no technical resistance as high as the 200-day simple moving average near 27.90. Meanwhile, the 25.00 mark might act as resistance.
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