Investors Hopeful as AT&T Stock Inches Toward 52-Week High

With a new BlackBerry model on the horizon, continued iPhone and iPad exclusivity, and solid second-quarter earnings under its belt, AT&T Inc. can seem to do no wrong.

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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