$T | AT&T Large Monthly Pennant & 4HR Inverse Head and Shoulders

4 Ara 2020

T is trading within a massive bullish pennant on the monthly chart.

Price recently found support at the bottom of the pennant structure & also at the horizontal demand zone.


On the 4 hour chart volume has increased and price is breaking out of an inverse head and shoulders pattern.


Potential Catalysts:
- Dividends Early January (>7% annual yield)
- Rumors that AT&T is closing deal to sell DirectTV
- Warner Bros announced it will send all of its movies to HBO Max the same time they are released in theaters

Targets: $30, $31, $31, $35

Let me know what you think in the comments!