AT&T Rallies Off Q1 Report

AT&T T shares are trading higher by $0.53 at $38.62 in Wednesday's session. The Street is receptive to its inline Q1 report for EPS and sales. The company sated that FY 2016 outlook was on track.

Off a lower open, it immediately found support in a familiar area. In the last four sessions, it bottomed in a narrow range between $37.85-$37.90 and bottomed just below that key area at $37.73.

The ensuing rally has taken the issue to $38.65 and is at that level at this moment. If the rally continues, the next resistance point comes in at its April 20 high ($39.01).