Shares of AT&T continue to fall. The stock is working on a 9th straight loss as it extends the drop from the summer highs to 18%. Year to date T is off 31.4% versus a gain of 6.6% for the S&P 500 Index. With earnings just around the corner(Thursday/AM) investors are showing very little interest in this laggard.
T is heading for its lowest weekly close in over a decade. The last time the stock closed out a week below $27.00 was back on Aug. 27, 2010. That being said, T put in two major lows just below $27.00. The nasty December 2018 flush held this zone as well as the March 2020 plunge. We’ll soon know if support here remains solid.
AT&T Inc. (NYSE: T) was started as Peer Perform at Wolfe Research.
Current dividend yield=7.75%
We are long T in our Dividend Income Portfolio