Sponsored By:

Take Advantage of AT&T Pullback

Profit-taking is giving traders a good entry point

   

AT&T, Inc. (NYSE: T) — This household name fell from a high of almost $43 to below $22 at the bear market low.

The stock formed a bottom (cup), and then broke from the right side of the cup, which completes a double-top. Often stocks will break from a top like this only to immediately succumb to profit-taking, and that’s what appears to be occurring now. 

Buy T at $28.50 or lower. The technical target for the breakout is $32.50. S&P has a “five-star buy” on AT&T with a 12-month target of $33. The stock pays a dividend of $1.68 for a yield of 5.94%.

11 12 10 t Take Advantage of AT&T Pullback

dmo chart key11 Take Advantage of AT&T Pullback

If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net.


Article printed from InvestorPlace Media, http://investorplace.com/2010/11/take-advantage-of-att-pullback/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.