Looking at the hourly chart since its low on March 9, AT&T (T) continues to make higher lows. However, March 27 has shown a few doji on the hourly chart, and the stock has traded sideways (slightly downward) the last four days. The low of 25.64 on March 25 was broken slightly by the low on March 26 by four cents; probably not enough to cause any real concern at that.
There is also some major support at the 25.16 level which was touched on March 20, 19, and 18.
A stop limit 2.5% below 25.62 will protect my position with a 10.8% gain, and provide me with a little room in case the 25.16 level is breached. T will not give its next quarterly report for another three weeks, so there is no need at this time to take into account the dividend.
24.98 is the stop limit.
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