Today we'll analyze the Stock T for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 37.88$ (02/15/08) to 34.83$ (02/29/08) a 3.05$ move
2- The current bullish trend started from 34.83$ at 02/29/08 and is currently trading at 38.48$.
3- The stock current support level is at 37.88 which is the 100.00% fibonacci retracement of the last 3.05$ move.
4- The stock current resistance level is at 38.71 which is the 127.20% fibonacci retracement of the last 3.05$ move.
5- According to ADX, the trend is currently bullish,which is becoming weaker.
Short term chart patterns :
6- The Stock was resisted by a resistance line, identified by two points: 37.88 and 38.28 that was broken up at 37.66 transforming into a supporting line.
Mid term chart patterns :
7- The Stock was resisted by a resistance line, identified by two points: 38.28 and 42.03 that was broken up at 35.01 transforming into a supporting line.
Long term chart patterns :
8- The Stock formed Double Top Pattern at 42.03.
Conclusion:
T was trading in a bullish wave, which is becoming weaker .
Technical indicators and chart patterns show no favorited direction,
recommend hold or waiting for entry .
Resistance Levels: 38.71, 39.76, 42.08, 42.22.
Support Levels: 38.03, 37.88, 37.68, 37.62, 37.09, 36.71, 36.66, 36.48, 36.36, 36.22, 36.00, 35.55, 34.83,.
We Moved!!
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Monday, April 7, 2008
AT&T Inc. (T) Technical Analysis
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Shadi
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