DTT Buzz

Yesterday At&T Inc (NYSE:T) reported earning which were up 30% from Q2 2007; this morning T was downgraded by JP Morgan. What is T's chart saying?

T has been trading in a broadening formation over the last 2 years. Over the last month T has stabilized at broadening support and looks to be setting up to make an upside move. This broadening formation indicates T could rally toward 39 over the coming months, regardless of being downgraded by JP Morgan. However, if I were going long I would put my stop just under 30 in the event of a selloff.

Keith Greff Jr
DTT Trader/ Analyst