AT&T is trading down 0.04% at 27.90

AT&T reported on Thursday second quarter earnings that beat analysts’ forecasts and revenue that topped expectations.

AT&T announced earnings per share of $0.89 on revenue of $44B. Analysts polled by Investing.com anticipated EPS of $0.7937 on revenue of $42.66B.

AT&T shares are down 2% from the beginning of the year, still down 17.65% from its 52-week high of $33.88 set on May 17. They are under-performing the S&P 500 which is up 16.04% from the start of the year.

AT&T follows other major Services sector earnings this month

AT&T’s report follows earnings missed by Netflix on Tuesday, who reported EPS of $2.97 on revenue of $7.34B, compared to forecasts EPS of $3.18 on revenue of $7.32B.

Prologis had beat expectations on Monday with second quarter EPS of $0.81 on revenue of $1.01B, compared to forecast for EPS of $0.4496 on revenue of $1.01B.

On technical fronts AT&T RSI stood at 54.50 and currently stock is trading above all Moving Average. So, BUY position can be taken with following target and stoploss:

TRADE SIGNAL – : AT&T – BUY: 27.90, TARGET: 28.68, STOP LOSS : 27.84