AT&T (T) Relative Strength Bull Flag Forming Above Value
AT&T (T) shares forming a nice bull flag on top of value area support of 20.50 with the 8/21 EMA crossing bullish the past week and confirmed by MACD moving positive. A slow moving name but a clean setup in a sloppy market and has an untested VPOC about a point higher at 21.73 so a simple target above. A move back under 20.50 would likely change the structure enough to bail on the setup. T has shown relative strength since its gap higher on earnings in mid April and recently bounced off YTD VWAP support at 19.