Keep an eye on AT&T (T).

After pulling back from about $18, the stock caught support at its 50-day moving average, as it also did in early January. It’s also over-extended on RSI, MACD, and Williams’ %R. Better, as investors wait for the stock to recover lost ground, they can collect its yield of 6.54%.

Big money market makers are making their living on YOUR money. Click here to protect your capital and grab theirs.

Helping, analysts at JP Morgan just upgraded the stock to an overweight rating, with a price target of $21 from $18. “We look for AT&T to grow its mobility business at a solid pace with both postpaid phone growth and ARPU for service growth of 3% in 2024 and EBITDA growth of 5.1%,” said the firm, as quoted by Seeking Alpha.

AT&T last traded at $16.97. From here, we’d like to see it initially test $18.25.


Ian Cooper