AT&T Inc. (T) trading idea 03/12/2018

So based on one of the Warren Buffet valuation technique using Price/Earnings and Price/Book Value it seems that currently the AT&T is currently undervalued and it is a good stock to consider for buying.  Please note that since I am looking for a short term trades for a few days and weeks, I am looking more closely on the technical aspects of the stock.

Looking at the monthly chart, currently the trend is bullish the price is over the Ichimoku cloud and also over the 200 MA, but at the daily chart the situation is different.  The price is in the Ichimoku cloud and a few cents below the 200MA. But it seems that there are two rebounds on the Ichimoku cloud, which indicates us the buying pressure.

Lets check on the monthly pivot points on the daily chart and see if there is a good trading opportunity.

R2 R1 PP S1 S2
midpoint midpoint midpoint midpoint
38.06 37.81 37.56 37.14 36.71 36.46 36.21 35.79 35.36

X Scalper

Currently the price is over the PP, which is another bullish indicator and looking at the monthly pivot point levels, I am seeing two really good entry opportunities at S1 and R1. Both of the levels were acting as a support and resistance before.  My opinion is that S1 will be more secure trade as 36$ is a really strong support and the price rebounded a few times already.  The exit point of the both trades could be the next pivot point level or even the midpoint between them.

Please note that this my view of the chart and you should trade responsible.