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AT&T (T) Drops After Earnings, Here’s The Trade

This morning, leading telecommunications and media company, AT&T Inc (NYSE:T), is falling after reporting earnings earlier today. The stock is trading lower by $1.31 (-3.41%) to $37.26 a share. Traders should note that the stock is now trading below it’s 50-day moving average. This puts the stock in a weak technical position on the charts. Today’s decline in AT&T also takes away all of the gains from the start of the year. The next major support area for AT&T stock will likely be around the $35.00 level. This level is where the 50-week moving average is sitting. It is also a level where the stock broke out in August 2019.

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