– AT&T reversed from long-term resistance level 25.00
– Likely to fall to support level 23.00.
AT&T is under the bearish pressure after the price failed to break above the long-term resistance level 25.00 (which has been reversing the price from the start of 2020), standing above the upper weekly Bollinger Band.
The downward reversal from the resistance level 25.00 will likely form the weekly Shooting Star (strong sell signal for AT&T) – if the price closes this week near the current levels.
Given the strength of the resistance level 25.00, AT&T can be expected to fall to the next support level 23.00.
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