In the past few sessions, AT&T shares have suffered from some profit taking and is now coming back to significant level support.
According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its value and its visibility.
Currently the stock is oversold and, in the mid-term, is trading in a bearish trend. In the short term, this trend is reversed upon contact with the USD 33.1 area. AT&T should be able to confirm its increase in the next trading sessions. This support is a trading opportunity in order to anticipate a technical rebound towards USD 35.2.
Therefore, the proximity of the USD 33.1 support is an opportunity to take a long position in AT&T. The first goal is a return in the USD 35.2 resistance area, that is a potential of 5.6%. In fact, the security has to cross this area in order to re-establish a bullish trend in the short term. A stop loss order can be placed under the support currently tested.