Will the Free Fall of T Stock Continue?

AT&T (T) stock has been in a free fall since the end of April, 2023, falling from the high of $20 and creating a low at $13.43. The stock price fell roughly 32% from the high. The downtrend started after the release of first quarter financial results. From the first quarter financial report, cash flow may have disappointed investors.

The stock entered into a consolidation zone ranging between $15.10 and $16.10 at the start of June. In the middle of July, T stock price broke the consolidation zone in the downward direction.

The stock price formed a support at $13.40 and began its bullish journey to retest the support turned resistance of $15.10. Currently, T stock price is stuck in a narrow consolidation zone ranging between $13.90 and $14.40.

If bears can push the price below $13.90, the price might retest the annual low of $13.43. On the other hand, if the price can rise above $14.40, it might retest $15.40. 

Downfall of AT&T Stock 

AT&T decided to reduce its workforce by 7% by cutting 5000 jobs in the United States. AT&T now no longer dominates S&P 500 as it once did.

Will T Stock Price Decline Further?

The stock price has crossed below 20,50,100 and 200-day exponential moving averages, indicating bearish momentum. The 20-day EMA has been acting as a resistance for the price. The relative strength index has been hovering below the 50 mark since 6 July. RSI stands at 41.96 suggesting bearish momentum in the price. 

The chaikin money flow score has dropped below 0 mark and trades at -0.09 indicating weakness in the market. CMF has been trading below 0 mark since August 16 suggesting strong influence of bears over the price. 

The bollinger bands have contracted indicating a decrease in volatility. T stock price is facing rejection from the 20-day SMA of bollinger and is headed toward the lower band.


The market structure and price action AT&T stock is bearish but the stock price is stuck in a narrow consolidation zone. 

Technical levels

Support Levels: $13.90 and $13.40

Resistance Levels: $14.40 and $15.10


The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Steve Anderrson
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