T Stock is Technically Perfect

Buz Investors Technical Breakout The other morning, as I was doing my daily scan for stocks that were on the move, I stumbled upon AT&T Inc. (NYSE:T) stock

Buz Investors Technical Breakout The other morning, as I was doing my daily scan for stocks that were on the move, I stumbled upon AT&T Inc. (NYSE:T) stock, and I was quite surprised.

AT&T stock contains certain characteristic that I look for in a potential investment. These characteristics are used to generate an investment view that is either bullish or bearish, indicating my belief that the stock price will either appreciate or depreciate. After studying the price chart, I have come to the conclusion that the bullish trend in T stock is intact and that higher stock prices are likely.



OTHER STORIES BUZ TRADERS FOLLOW

Technical Breakout

Using a price chart to generate an investment view is within the context of technical analysis. This method of investment analysis is based on the notion that historical price and volume data can be used to discern trends and forecast future stock prices. I have been using this method for nearly two decades and I have had great success in applying it to my trading strategies.

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A bearish cross was generated in 1999, 2008, and 2013, indicating that bearish momentum was propelling T stock and, as a result, the path of least resistance was geared toward lower prices. This indicator smartly confirmed the notion that lower prices were set to prevail, and it would have proven wise to avoid this investment when a bearish cross was engaged.

This same indicator produced a bullish cross in 2003, 2009, and 2015, indicating that bullish momentum is propelling AT&T stock and that, as a result, the path of least resistance was geared toward higher prices. This indicator proved once again that, when a bullish cross is engaged, higher prices will prevail. The indicator also implied that being long on the stock is the best course of action.

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Jadtecnic

Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of InvestorsBuz.com, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

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