Keen interest in AT&T (T)

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.

Putting a close eye on the wireleZZ, AT&T (T) & Verizon (VZ)

Charts showing high potential.  Fundamentally AT&T is a solid company, and they’ll have no problems paying off the juicy 6% dividend yield YoY.  Short term downtrend has been broken at $25.86.  Will wait for a confirmation above $26.80 for entry.  If that breaks, potential target price is $30.25.

 

Verizon (VZ) is also on a break or fail situation here.  Need a couple more days to confirm.  Comfortable entry point would be around $32.10.  This stock is due for some momentum soon one way or the other.  Will have to wait for a couple more days to confirm.

But comparing these two companies.  Even though Verizon has more market share now than AT&T.  AT&T looks like a better candidate because they have more room on the upside.  Plus, they are getting more phone pipelines this summer from new Apple iphones to the Curve 8900 also being released at AT&T and the potential for new blackberry phones.