AT&T's Mixed Signals: Bearish Trend But Bullish Indicators Ahead Of Q2 Earnings

AT&T Inc. T will be reporting its second-quarter earnings on Wednesday. Wall Street expects 57 cents in EPS and $30 billion in revenues as the company reports before market hours.

The stock is up 24.08% over the past year, 7.5% year-to-date.

Let’s look at what the charts indicate for AT&T stock, and how the stock currently maps against Wall Street estimates.

AT&T Stock Exhibiting Bearish Trend With Buying Pressure Ahead Of Q2 Earnings 

AT&T is currently exhibiting a moderately bearish trend, though there are signs of slight buying pressure.

Chart created using Benzinga Pro

The stock’s price of $18.55 is below the 8-day and 20-day simple moving averages (SMA) of $18.85 and $18.81, respectively, which typically indicates a bearish sentiment. However, the 50-day SMA is at $18.16, and with the current share price above this level, there is a technical bullish signal suggesting some upward momentum.

Furthermore, the 200-day SMA sits at $16.94, and with the stock price of $18.55 comfortably above it, this also indicates a bullish outlook.

Chart created using Benzinga Pro

The Moving Average Convergence Divergence (MACD) indicator is at 0.18, another bullish signal, while the Relative Strength Index (RSI) is at 49.23, suggesting the stock is approaching oversold territory and may see a reversal.

Additionally, the Bollinger Bands (25) for AT&T are at $18.00 to $19.37, indicating that the stock is within a favorable buying range.

Overall, while the immediate trend is moderately bearish, several indicators point to potential upside, making AT&T an interesting watch for bullish investors.

Read Also: What’s Going On With AT&T Stock?

AT&T Analysts See 13% Upside

Ratings & Consensus Estimates: The consensus analyst rating on AT&T stock stands at a Buy with a price target of $21.98. The latest analyst ratings from Scotiabank, RBC Capital, and Goldman Sachs have set an average price target of $21 for AT&T stock, implying a 13.09% upside.

T Price Action: AT&T stock closed the trading day Monday at $18.55, down 2.98%.

Read Next:

• Turn Trading Into The Ultimate Side Hustle Using Benzinga Tools In A Free Webinar

Photo: Shutterstock