Don't Hang Up Yet on AT&T

After a deep pullback, AT&T (T) has made a solid comeback with good price action on solid turnover.

What impresses me is the recent 10% rally that gave up so little. Buyers are coming after the name in a big way, and a buy signal on the moving average convergence divergence (MACD) certainly helps.

Relative strength is impressive, as money flow continues to expand. The current price may have some resistance from the July highs, and may move sideways a bit.

However, above there should lead to even higher prices.

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