AT&T Inc. (T) is an American multinational telecommunications holding company headquartered in Dallas, Texas. It is the world’s largest telecommunications company by revenue and the third-largest provider of mobile telephone services in the U.S.
AT&T stock continues to gain traction as it approaches the $29.03 resistance zone. Investors are encouraged by its strong free cash flow, consistent dividend yield, and aggressive fiber network expansion. Recent earnings have met expectations, and analysts forecast modest revenue growth supported by wireless and broadband demand. Additionally, the company’s focus on debt reduction and operational efficiency adds to its appeal.
From a price action perspective, $T is developing an impulsive structure, suggesting further upside potential. The stock trades above key moving averages, and momentum indicator like RSI remain supportive. If it breaks above $29.03, a new bullish leg could unfold. Until then, traders may look for consolidation or a pullback as a buying opportunity.
AT&T (T) Monthly Chart September 2024
In the last monthly chart in September 2024, we spotted a strong rally from the Blue Box area. That rally looked promising but did not confirm that wave ((II)) ended at $13.43. To validate the end of wave ((II)), the market needed to break above wave ((I))’s high. Until then, the stock had room to form lower structures. Despite that, T performed well and signaled a developing impulsive trend. (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).
AT&T (T) Weekly Chart February 2025
Over the last 5 months, the stock formed a clear five-swing structure, favoring an impulsive outlook. Wave ((3)) ended at the $24.03 high. Then, the market corrected lower and completed wave ((4)) at the $21.38 low. After that, T pushed higher. Strong earnings—better than expected—sparked an aggressive rally. This confirmed continued strength. We tracked wave ((5)) in progress. Specifically, the market was advancing in wave (3) of ((5)).
AT&T (T) Weekly Chart June 2025
The stock price continues rising as expected, suggesting an extension in wave ((3)) as you can watch in the chart. Wave ((3)) likely ends at 29.03 high and wave ((4)) finds support at 25.10 low. Now, the market must break above 29.03 to drive wave ((5)) toward the 30.02–31.55 area. A bearish reaction in that zone confirms completion of impulse wave I. Still, upward extensions remain possible.
Alternatively, if the market fails to break 29.03, wave ((4)) may still be unfolding. In that case, T could drop toward 24.66–23.72 to finish wave ((4)). Then, the bullish move continues in wave ((5)). A clean break above 29.03 avoids this scenario.
We’ll keep tracking the structure—stay tuned as the market unfolds the next wave—trade smart!
Transform Your Trading with Elliott Wave Forecast!
Ready to take control of your trading journey? At Elliott Wave Forecast, we provide the tools you need to stay ahead in the market:
✅ Hourly Updates: Fresh 1-hour charts updated 4 times a day and 4-hour charts updated daily for 78 instruments.
✅ Blue Boxes: High-frequency trading zones, calculated using sequences, cycles, and extensions. These areas pinpoint ideal setups for smarter trades.
✅ Live Sessions: Join our daily live discussions and stay on the right side of the market.
✅ Real-Time Guidance: Get your questions answered in our interactive chat room with expert moderators.
🔥 Special Offer: Start your journey with a 14-day trial for only $0.99. Gain access to exclusive forecasts and Blue Box trade setups. No risks, cancel anytime by reaching out to us at support@elliottwave-forecast.com.
💡 Don’t wait! Elevate your trading game now. Trial us at: 🌐
Back
