S&P 500 Market Outlook: Bearish
Bullish Trade: T $18.59 – Communications
The bullish DailyPlay we chose for Friday, Oct 4th is AT&T (T). T is part of the Communications Sector (XLC). XLC has declined 2.48% lower over the past month and its 1m and 6m trend turned bearish on Oct 1st but bounced higher off its $48 support level.
AT&T’s 1m and 6m trend turned bullish yesterday and recently bounced higher off its $37 resistance level. With a technical score of 9 (out of 10), T is a strong stock that will likely continue higher.
As a stop loss, if T was to trade above $37 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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