AT&T Corporation published the quarterly reporting on 26 January. The results turned to be better than market expectations but weak predictions for this year with a decrease in the annual dividend from $2.08 to $1.11 led to the rapid decline.
For a long time, stocks are in the downtrend but now minimums were not updated. Probably, all principal stockholders of AT&T who wanted to leave long positions have already done this.
If the lower boundary of the uptrend stands from the minimum of 21.98, it can be followed by the bounce from the upper boundary of the emerging channel, now it is moving close to 26.5.