AT&T Rallies 4% as Telecom Bulls Take Control
$AT&T Inc(T)$
AT&T Inc. (T) Jumps +4.30%: Telecom Giant Reclaims Key Resistance, Targets $28.72
Latest Close Data
Closed at $26.21 (ET Feb 1), up +4.30% ($1.08). Now sits 12% below its 52-week high of $29.79.
Core Market Drivers
Positive market sentiment toward high-dividend, stable cash flow stocks provided a tailwind. The stock's attractive ~4.24% dividend yield continues to draw income-focused investors amidst ongoing sector consolidation chatter.
Technical Analysis
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Volume of 78.2M shares (Volume Ratio 1.26) confirms strong buying interest.
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The MACD (DIF: 0.03, DEA: -0.23, MACD: 0.53) has just crossed above zero, signaling a potential shift from bearish to bullish momentum.
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The 6-day RSI at 84.5 indicates the stock is in overbought territory, suggesting a near-term pullback is possible.
Key Price Levels
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Primary Support: $24.81 (Recent swing low).
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Strong Resistance: $26.21 (Today's close & immediate test level). A sustained break above could open path to $27.
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Immediate Pivot: $26.00 (Psychological & intraday support).
Valuation Perspective
TTM P/E of 8.62 and Forward P/E of 11.40 remain below the historical average of 9.65, indicating the stock is still reasonably valued relative to its own history.
Analyst Targets
26 analysts have an average price target of $28.72 (Upside ~9.6%). Sentiment is bullish with 7 Strong Buy, 9 Buy, 10 Hold, and 2 Underperform ratings.
Weekly Outlook
Expect consolidation between $25.50 and $27.00 after the strong move. A decisive close above $26.50 could target the $27.50-$28.00 zone. A break below $25.14 (today's low) may signal a retreat toward $24.81 support.
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