AT&T: Every Trader Should Know This Level
InTheMoneyStocks.com | Jul 16, 2018 02:38PM ET
Everyone in the trading world is talking about AT&T (NYSE:T) these days. As you know, the communications giant recently won a case against the DOJ regarding a merger with Time Warner. Since that court ruling, the shares have continued to slump. Last week, the DOJ said it would appeal the court decision.h3 Watch This Support/h3
The truth of the matter is that AT&T topped out in July 2016 at $43.89 a share. Since that pivot top in the stock price, it has dropped sharply and currently trades at $31.87 a share. Traders and investors should now watch the $29.65 level for support. This important support area is a major retrace level for the stock. Often, major retrace levels will serve as excellent support when retested.
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