AT&T, a fresh buy signal
AT&T jumps 10.6%: breaks above the 24 area on a confirmed double bottom
AT&T, a fresh buy signal
Our view last week
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.
This week's summary
AT&T jumps 10.6% in a single week, the second straight weekly gain, breaking above the 24 area: the double bottom near 20 holds and opens the door to a new buy signal. On the daily chart buyers control 100% of volume and cash flow has turned positive, while the weekly RSI stays neutral - the push is still young. Earnings just passed, so gap risk is behind.
IQS Phase
52
ordinary
Signal Strength
54
medium
Sizing
STANDARD
Ranking
#6 / 7
New us stocks
Trade P&L %
+0.00%
from signal to today
Rank position
ranks 6th among the 7 fresh Longs for US stocks in our ranking, with a signal strength of 54 out of 100.
Sector context
SectorCommunication Services
Benchmark ETFXLC
Sector regimeweak phase
Performanceweekly -3.93% · monthly -0.23%
T belongs to the communication services sector (reference ETF XLC). The sector is classified weak phase according to our weekly reading.
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