Currently AT&T is an attractive buy area. Today it confirmed the support based on the volume profile like I expected it. The mentioned exit lines are targets with increasing risk.
Fundamentally AT&T is a buy : AT&T will jettison WarnerMedia in a 43bn deal with Discovery (DISCA) as it refocuses on its telecom efforts. It’s planning to spend 20bn on 5G infrastructure and home broadband in 2022. It also dropped a dividend cut bomb on investors as part of the transaction. Shareholders will get only $1.11 per share in dividends this quarter, down nearly half from $2.08 per share. The stock dropped nearly 4.2% on Tuesday – not because anyone’s hugely attached to WarnerMedia, but because they’re wondering if the dividend cut is less run of the mill and more a “prudent decision that will help the company quickly trim its debt obligations”, as Craig Moffett puts it.