Sam Collins

AT&T Calling All Traders

by Sam Collins   06/24/09

AT&T (T) -- This major provider of telecommunications services to consumers and businesses in the United States and internationally has fallen from a high of almost $43 to under $22 in a little over a year.

On Jan. 14, at $25, I wrote, "The stock ran to $31 before profit-taking drove it down to $26 and a new Collins-Bollinger Reversal (CBR) buy signal.

"The target for a 'telephone trade' is $32. Longer-term buyers may want to add T to their investment-grade list of holdings."

The trading target remains at $32. However, recent analyst upgrades and its high dividend yield of 6.6% for a blue chip stock of this caliber could result in higher prices.

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Sam Collins is a registered, fee-based portfolio manager who may be contacted at samailc@cox.net. You can also check out an archive of some of his most recent market outlooks.