And investors are taking note, hoping the service providers stocks soon reflect that momentum. Those hopes could be paying off. On Tuesday, shares of AT&T opened above $26.54 what investment adviser SmarTrend called the pivot” point and reached the first resistance level of $26.74. Thats the price at which AT&T shares could stagnate if Wall Street reacts fearfully, but SmarTrend predicts AT&T could reach $26.89 or even $27.24. Chances are, thatll happen, since AT&Ts shares are trading above the 50-day moving average of $25.01 and above the 200-day moving average of $25.89,” SmarTrend told clients.
AT&Ts 52-week stock high stands at $28.73.
SmarTrend first advised subscribers to buy shares of AT&T on July 26, when the price totaled $25.88. Since that time, AT&Ts shares have risen 3.4 percent.
Shares of AT&T didnt quite reach the resistance level on Tuesday they closed at $26.69.
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