Trading Idea - Entry Levels for AT&T

Published on Tuesday, 02 February 2010 03:31 Written by Christopher Lynn

New York, 1^st (TradersHuddle.com) - Shares of AT&T, Inc. (NYSE:T) are trading very close to calculated support at $25.06 with current price action closing at just $25.38 places the stock price near levels where traders will start paying attention.

AT&T Inc. (NYSE:T), a diversified communications company through its subsidiaries and affiliates, provides local and long-distance phone service, wireless and data communications, Internet access and messaging, IP-based and satellite television, other full range of communications services. The company also sells advertising for its yellow and white pages directories. The company was formerly known as SBC Communications Inc. and changed its name to AT&T Inc. in November 2005 as a result of merger with AT&T Corp. AT&T Inc. was founded in 1983 and is based in Dallas, TX.

AT&T's current stock range is defined by current calculated support defined at $25.06 and by the resistance level at $28.61, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to AT&T's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $28.61 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.