Jim Cramer didn't actually make the phone call on the Lightning Round segment of "Mad Money" Monday night. But he did make the call.
"I'm a believer in AT&T (T) ," said Cramer to a caller during the "Mad Money" show. Let's check out the charts and indicators of T to see how the line holds up.
In this daily bar chart of T, below, we can see that prices have been forming a potential rising or ascending triangle formation. An ascending triangle basically has a roughly equal top or horizontal trend line and a rising trend line along the lows.
Buyers are getting more aggressive, while a seller or sellers are active around the same price range. The pattern starts in October and is close to the apex now. Trading volume has been diminishing during the formation of this consolidation pattern and that is typical as the high/low range becomes narrower. The daily On-Balance-Volume (OBV) has been rising since the beginning of September and tells us that despite the sideways price action traders have been more aggressive buyers. The Moving Average Convergence Divergence (MACD) oscillator is currently in a bullish configuration above the zero-line.