AT&T Stock Code T.NYS
Outlook
Price moved above a previous high at $32.03 on Friday and closed near its high. This is an indication of a strong breakout of the resistance. Price is also above the cloud and above Conversion and Base lines. Both Conversion and Base lines are rising, indicating a bullish trend. MACD is rising and bullish. This is another indication of a bullish trend in progress. The next resistance lies at $33.29. Price should be able to move past this resistance to the next higher resistance at $34.31. This is also near to $34.24, which is the Fibonacci 161.8% of the rally from $26.77 to $31.40.
Strategy
$32.34 Buy
$34.24 Price Target
$31.24 Risk Management Stop
3 weeks Trade Duration
Apache Corp Stock Code APA.NYS
Outlook
Two days ago, there was a Hammer candlestick pattern made. This is a bullish reversal pattern and could be an indication that price has reversed the downtrend right at the edge of the cloud. This was followed by a big strong candlestick which moved above both the Conversion and Base lines. With price above the cloud as well, these are indication of a possible price rally to follow. MACD is bullish and above the zero line, indicating a bullish trend. Price is likely to test the Fibonacci 61% and gap resistance at $40.27.
Strategy
$35.57 Buy
$40.25 Price Target
$33.05 Risk Management Stop
3 weeks Trade Duration
