AT&T stock (NYSE:T) has declined by around 9% over the last month, underperforming the S&P 500 which has gained about 5% over the same period. There are a couple of factors weighing AT&T
However, now that AT&T stock has seen a decline of about 9% over the last month, will it continue its downward trajectory in the near term, or is a rally imminent? Going by historical performance, there is a 68% chance of a rise in T stock over the next month, Out of 116 instances in the last ten years that AT&T stock saw a twenty-one-day decline of 9% or more, 79 of them resulted in AT&T stock rising over the subsequent one-month period (twenty-one trading days). This historical pattern reflects 79 out of 116, or a 68% chance of a rise in T stock over the coming month, implying a positive near-term outlook for the stock. See our analysis on AT&T Stock Chance of A Rise for more details.
Calculation of ‘Event Probability’ and ‘Chance of Rise’ using last ten years data
- After moving -11% or more over five days, the stock rose in the next five days on 50% of the occasions.
- After moving -12% or more over ten days, the stock rose in the next ten days on 41% of the occasions
- After moving -9% or more over a twenty-one-day period, the stock rose in the next twenty-one days on 68% of the occasions.
With inflation rising and the Fed raising interest rates, AT&T has fallen 3% this year. Can it drop more? See how low can AT&T stock go by comparing its decline in previous market crashes. Here is a performance summary of all stocks in previous market crashes.
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Credit: www.forbes.com /