Shares of AT&T (T) have struggled for many months. With the company reporting its second-quarter earnings Thursday, let's check on the charts and indicators to see if we might be overlooking any positive clues.
In the daily bar chart of T, below, we can see we can see a lot of intense activity the past five months. T has rallied to the upside including a gap to the upside in April and then a sharp reversal in May including a gap to the downside. The moving averages have been little help in this wide swinging sideways market. T is trading below the declining 50-day moving average line and the declining 200-day line.
The On-Balance-Volume (OBV) line moved higher into May and then turned lower as traders quickly flipped from aggressive buyers to aggressive sellers. The Moving Average Convergence Divergence (MACD) oscillator has been bearish since late May when prices gapped lower.