Shares of AT&T (NYSE:) continue to fall. The stock is working on a ninth straight loss as it extends the drop from the summer highs to 18%. Year to date, AT&T is off 31.4% versus a gain of 6.6% for the Index. With just around the corner (Thursday morning) investors are showing very little interest in this laggard.
AT&T is heading for its lowest weekly close in more than a decade. The last time the stock closed out a week below $27.00 was back on Aug. 27, 2010. That being said, AT&T put in two major lows just below $27.00. The nasty December 2018 flush held this zone as well as the March 2020 plunge. We’ll soon know if support here remains solid.
AT&T Inc. was started as Peer Perform at Wolfe Research.
Current dividend yield = 7.75%
Note: We are long AT&T in our dividend income portfolio.
You can read Gary S. Morrow’s original post here.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.