AT&T Approaches Support Levels

AT&T Inc. T is being hammered today on the back of earnings that did not meet Wall Streets expectations. The stock is trading at $27.87, -0.86 (-2.99%). While it is being hammered, there are significant support levels just below the current price that may yield a bottom. The first level is at $27.70. This is the pivot low from January 11th, 2011 and would act as a double bottom for the stock on the daily chart. In addition, at $27.15, the stock would hit the daily 200 moving average. This would be another major support. Gareth Soloway InTheMoneyStocks.com