AT&T Reaches $39 Handle For First Time Since June 2008

At&T Inc. T shares are trading higher by $0.30 at $39.07 in Thursday's session. It is trading higher for the third day in a row and for the fifth time in the last six sessions.

After a flat open, it found support a nickel under Wednesday's close ($38.77), reaching $38.72 before moving higher. So far, it has cleared out the institutional sellers at the $39 level, reaching $39.19.

This marks the first time it has traded in the $39 handle since May 2008, when it peaked at $39.91, before ending that month at $33.69.