AT&T Inc. (T) declined in its latest intraday trading after colliding with resistance at its 50-day SMA, which exposed the stock to mounting negative pressure. This pressure intensified with the emergence of negative signals from the RSI after reaching severely overbought levels, exaggerated relative to price action, while the main bearish trend continues to dominate the short term.

 

Therefore we expect the stock price to decline in the upcoming trading sessions, as long as resistance at $25.00 holds, to target the key support level at $24.00.

 

Today’s price forecast: Bearish