AT&T looks remarkably interesting from here and I’ve been keeping a close eye on it for a while waiting for it to break either technicals levels for a buy signal. Finally, the stock broke, but on the downside breaking a key technical level of $24.57. Will be looking to Short this later on an upside pullback.
But I am more interested in going long. Target price will be around $21.57. My biggest appetite for this stock is the juicy dividend yield currently at 6%. By the time the stock reaches $21.57 it will boast a yield of 8%. Plus, seeming that cell phones are becoming more and more like necessities than anything, I have full faith that these guys will be able to pay them.
Summer is also coming along and a new iPhone is coming. I think it should help boost the shares abit too.
This will be my safety stock just like GLD and will allocate a large percentage of my portfolio weight into this stock.
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