AT&T Inc (NYSE:T) shares are trading flat Monday afternoon as investors continue to weigh California regulatory resistance to the company’s copper-network retirement plans.
- AT&T stock is gaining positive traction. Why are T shares climbing?
What Is Driving AT&T’s Copper Network Retirement?
California regulators asked a court and the Federal Communications Commission to reject the company’s request to stop offering traditional copper-wire phone service to new customers in parts of the state. The California Public Utilities Commission argues the carrier-of-last-resort obligation is technology-neutral, but says AT&T hasn’t shown replacement options would meet state standards for all impacted users.
With markets open, the tape is mixed: the Nasdaq is down 0.81% while the Dow Jones is up 0.28%, and only 5 of 11 sectors are advancing. That backdrop makes AT&T’s green print stand out, especially with Communication Services currently the worst-performing sector (11 of 11) at -2.54%.
Critical Levels To Watch for AT&T Stock
AT&T is still in a longer-term downtrend despite today’s bounce, with the stock down 20.78% over the past 12 months and trading below every major moving average. Price is about 5.2% below the 20-day SMA ($23.57) and about 14.2% below the 200-day SMA ($26.04), which keeps rallies looking more like counter-trend moves unless the stock can reclaim those levels.
Trend structure remains pressured: the 20-day SMA is below the 50-day SMA (bearish), and the death cross that formed in May (50-day falling below the 200-day) is still in effect. RSI and MACD values aren’t available in the current dataset, but the month-level turning points still frame the tape—there was a recent swing high in April followed by a swing low in June, aligning with the broader breakdown that occurred in June.
- Key Resistance: $26.00 — a round-number area that also lines up closely with the 200-day SMA zone, where rebounds can stall
- Key Support: $22.50 — a nearby pivot area just above the 52-week low ($21.99), where buyers may try to defend the range floor
AT&T’s Market Position: Strengths and Weaknesses Explained
Below is the Benzinga Edge scorecard for AT&T, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Bearish (Score: 9.89) — The stock’s trend has lagged, which fits with price staying below key moving averages.
- Quality: Neutral (Score: 50.5) — The fundamentals screen as middle-of-the-pack, suggesting stability but not a clear quality tailwind.
- Value: Neutral (Score: 43.55) — Valuation looks reasonable, but the score implies it’s not an extreme bargain on this model.
- Growth: Strong (Score: 80.47) — The model is flagging better growth characteristics than many peers, which can help support the stock on weak tape.
The Verdict: AT&T’s Benzinga Edge signal reveals a growth-tilted profile with very weak momentum, meaning the chart still has to prove itself even if the valuation looks supportive. For longer-term investors, the setup improves most if price can rebuild above the low-to-mid $20s and start reclaiming the $26 area where trend resistance clusters.
AT&T Stock Price Movement on Monday
T Stock Price Activity: AT&T shares were up 0.91% at $22.22 at the time of publication on Monday, according to Benzinga Pro data.
Image: Courtesy of AT&T
Login to comment