TheStreet's Quant Ratings service upgraded their rating of AT&T (T) , the iconic telecom giant. I have not looked at T since March 9 when we wrote that "Maybe AT&T will find buying interest (support) in the $23 area or at worst the $23-$22 area. The risk on the charts is if T trades down to $21 -- a new low for the move. Avoid the long side of T."
More from Investing
Bulls hoped that a bottom had been found, but they overlooked the reasons behind the rally last week.
The shares have been in the single digits since early May.
With an expected dip for 2023, the pharmaceutical company could see its mRNA technology win big over the long term -- and investors could be rewarded.