Telecommunications Archives - Elliott Wave Forecast

Analysts still maintain a Moderate Buy consensus with an average price target of about $30.6, implying nearly 20% upside from current levels. However, forecasts suggest short‑term weakness: AT&T (T) could dip toward $23.4 by the end of November and $22.1 in December, reflecting a potential 10% decline. This near‑term pressure stems from market fatigue and broader telecom competition, yet the company’s fundamentals remain intact. AT&T has reiterated its 2025 guidance of adjusted EPS between $1.97 and $2.07 and free cash flow above $16 billion, supported by fiber expansion and debt reduction plans.

Looking forward, AT&T’s strategy of scaling fiber coverage and leveraging wireless spectrum should gradually strengthen its position. Transitioning away from legacy assets and focusing on convergence is expected to improve EBITDA growth toward 5% by 2027–2028. Moreover, management’s commitment to reducing leverage to 2.5x EBITDA by mid‑2025 enhances balance sheet resilience. Therefore, while the next few months may bring volatility and possible downside, disciplined investors could benefit from dividends and long‑term appreciation as AT&T executes its multi‑year growth plan. The key will be navigating short‑term corrections while staying aligned with the broader structural uptrend.

Elliott Wave Outlook: AT&T (T) Weekly Chart June 2025

In June, the stock price kept rising as expected, signaling an extension in wave ((3)). We identified the 29.03 high as the likely end of wave ((3)), while support for wave ((4)) appeared at the 25.10 low. From there, the market needed to break decisively above 29.03 in order to propel wave ((5)) toward the 30.02–31.55 target zone. A bearish reaction inside that zone would confirm the completion of impulse wave I. Nevertheless, we acknowledged that upward extensions could still unfold beyond that range.

At the same time, we prepared for the possibility that the market might fail to break above 29.03. In that case, wave ((4)) would still be developing, opening the door for a decline toward 24.66–23.72 before completing wave ((4)). Once that correction finished, the bullish move in wave ((5)) would resume. Importantly, a clean break above 29.03 would invalidate this alternative and reinforce the direct path higher. (If you want to learn more about Elliott Wave Principle, please follow these links: and .)

Elliott Wave Outlook: AT&T (T) Weekly Chart Noviembre 2025

On September 15, T completed the cycle that began in 2023, reaching 29.79 per share. The price missed the ideal target zone by just a few cents. Wave ((5)) formed an ending diagonal, which finalized impulse wave I and triggered a reversal. From that peak, the market declined into the expected 24 area. However, this drop represents only wave ((A)) of corrective wave II.

Now, we anticipate a rebound in wave ((B)). This recovery should remain capped below 29.79. Afterward, the market is expected to fall again in wave ((C)) of II. The ideal completion zone for this correction lies between 22.00 and 19.70. Within that range, we could look for new buying opportunities aimed at breaking above the impulse wave I high of 29.79.

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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!

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