Technical trade #2: AT&T (T)

Filed under: AT and T (T), Technical Analysis, Stocks to Buy

AT&T (NYSE: T) fell from a high of almost $43 to less than $22 in a little over a year. T formed a long-term bottom, finally breaking out at $27 after executing a gold cross (confirmation of a long-term bull market).

But profit-taking in the past two weeks has caused a retrenchment back to support at $26.50.

The stock could pull back more, but its high quality and visibility make this the bluest of blue chip stocks, with a dividend yield of more than 6% and a strong buy recommendation by S&P (five stars).

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Technical trade #2: AT&T (T) originally appeared on BloggingStocks on Sat, 10 Oct 2009 13:00:00 EST. Please see our terms for use of feeds.

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