Shares of AT&T Inc., one of the largest US telecommunications conglomerates, are correcting at 14.00.

On the daily chart, the price is falling within the global corridor with dynamic boundaries of 15.40–12.20.

In the four-hour chart, the global low of the year at 15.00, passed last month, was backtested, and now the only obstacle for the “bears” is the new low of 13.20, consolidation below which will allow quotes to reach the global channel support level of 11.00.

Technical indicators confirm a sell signal: fast EMAs on the Alligator indicator are moving away from the signal line, expanding the oscillation range, and the AO histogram is forming downward bars in the sell zone.

Trading tips

Short positions may be opened after the price drops and consolidates below 13.20 with the target at 11.50. Stop loss — 14.00. Implementation period: 7 days or more.

Long positions may be opened after the price rises and consolidates above 14.90 with the target at 16.70. Stop loss — 14.00.