Akil_Stokes
Long

AT&T: Bat Pattern at The Trendline

NYSE:T   AT&T INC
I don't involve myself in the stock market as much as I used to but every once in a while I like to look about and see what's going on. AT&T caught my attention on the technical side (which is my specialty) for a few reasons.

Big picture (weekly) we're in consolidation in a pattern that is very similar to a bullish flag . Working our way down to the lower timeframes (daily)we've but in a series of higher lows. Our last cycle from NSH to our current OR shows hidden divergence as well which is a good sign of continuation.

Lastly on the 4hr we have a completed bat pattern down at $32.72. Key levels that I'd be focused on IF this price rallies are $33.60's, $34.15's and $35.00

Fundamentally I don't did into the numbers as much as I used to but the I personally like companies the offer dividends. I think it provides a bit of safety. Yes this company has some debt as well which is concerning, but with the risk being so small, it's certainly worth a shot in my opinion
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Do you require BC leg to reach .618AB for a valid bat? Lots of people take it as a valid bat when it retraces up to .382.
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Akil_Stokes OccultTrader
No I do not require a 61.8 for the C
+1 Reply
OccultTrader Akil_Stokes
Me neither. But I require |CD| to be greater or equal to |AB|. I also like it if the D point is at least at the 1.618 projection of the BC leg. This bat satisfies them both. So I would take the trade .886XA.
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Akil_Stokes OccultTrader
Nice, best of luck!
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