AT&T bounces again, but the decline won't let go
AT&T climbs 3.2% for a second week, with earnings landing this very week
AT&T bounces again, but the decline won't let go
Our view last week
AT&T shares bounce 8% off a daily double bottom in the 20 area, with buyers back in control of volume at 75%. But underneath, the picture stays fragile: the MACD keeps deteriorating, momentum is still deeply negative, and a rising ADX says the downtrend is gaining conviction. The short is already more than 20% in profit, with earnings due in two weeks.
This week's summary
AT&T shares are climbing for a second straight week, still off that double bottom in the 20 area: +3.2% this week after +2.7% the week before. But the weekly ADX is up to 32, saying the underlying decline is still gaining conviction, while sellers stay slightly in charge of the last bar. The short has been under management for 13 weeks and sits above 17% in profit, with earnings landing this very week.
IQS Phase
60
ordinary
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#134 / 140
US stocks
Trade P&L %
+17.73%
from signal to today
restricted Platinum content