AT&T Inc. (NYSE:T) ruling boosts stocks of other mega-merger targets in after-hours trading

AT&T Inc. (NYSE:T) ruling boosts stocks of other mega-merger targets in after-hours trading

AT&T Inc. (NYSE:T) ruling boosts stocks of other mega-merger targets in after-hours trading

Tuesday’s court ruling that AT&T Inc. can proceed with its nearly $85 billion acquisition of Time Warner Inc. could open the floodgates to a wave of mega-mergers, and investors wasted no time in betting on the future in after-hours trading.

Shares of AT&T T, +0.50%   fell almost 3% in the extended session, while Time Warner TWX, +0.05%   jumped 4.5%.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 35.65.

The projected lower bound is: 33.02.

The projected closing price is: 34.33.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 20 white candles and 30 black candles for a net of 10 black candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 88.5969. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 18 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 67.00. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 22 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 149.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 11 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 20 period(s) ago.

Rex Takasugi – TD Profile

AT&T closed up 0.170 at 34.350. Volume was 29% above average (neutral) and Bollinger Bands were 0% wider than normal.

Open High Low Close Volume___
34.500 34.529 34.080 34.350 10,240,707

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 33.20 33.49 35.87
Volatility: 15 25 26
Volume: 8,372,263 7,824,959 7,976,486

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

AT&T is currently 4.2% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into T.N (mildly bullish). Our trend forecasting oscillators are currently bullish on T.N and have had this outlook for the last 6 periods.

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