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AT&T Inc (NYSE:T) soared to a new 52-week high of $19.32 during day trading on July 1, showcasing a robust upward trajectory.
The stock has climbed an impressive 17.74% over the past year and is up 13.11% year-to-date, signaling a strong bullish trend.
With the share price consistently above its key moving averages, AT&T is riding high, though a slight selling pressure is being observed. See below.
Chart created using Benzinga Pro
At a current share price of $18.96, AT&T is comfortably above its 5, 20 and 50-day exponential moving averages, reinforcing the bullish sentiment.
Here's a closer look at the technical indicators lighting up with bullish signals:
Chart created using Benzinga Pro
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The achievement of a new 52-week high at $19.32 is a significant milestone for AT&T. This high is a technical affirmation of the stock's strength. It indicates strong investor confidence and could attract more buying interest, potentially driving the stock price higher.
Overall, AT&T's technical setup is overwhelmingly bullish. The stock’s performance above key moving averages, positive MACD reading and favorable Bollinger Bands all point towards a continued uptrend. However, with the RSI indicating overbought conditions, investors should remain cautious of potential short-term pullbacks.
Nonetheless, the new 52-week high underscores AT&T’s solid momentum and bullish outlook.
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