AT&T shares fall the most in a month on Wednesday, 17 000 workers in Nevada and California take part in a walk-out

Almost 17 000 AT&T employees in Nevada and California were reported to have gone on strike on March 22nd, while accusing the company of contract term violation. According to allegations, employees were forced to do work outside their field of expertise. As of January 31st, 268 000 persons had been employed with the communication service provider, a filing showed.

AT&T shares registered their largest daily slump since February 27th on Wednesday, while also marking a third straight session of losses. The stock went down 1.02% ($0.43) to $41.65, after touching an intraday low of $41.46, or a price level not seen since February 22nd ($41.45). In the week ended on March 19th the shares of the communication service provider added 0.61% to their market value compared to a week ago, which marked a second consecutive period of gains, but yet, the smallest one since the week ended on February 19th. The stock has erased earlier gains and is now down 0.34% so far during the current month, following a 0.88% drop in February. The latter has been a second consecutive month of decline. For the entire past year, the shares of the NYSE-listed company gained 23.60%.

People employed at AT&T Incs phone, landline and cable service divisions were reported to have worked without a contract for almost one year.

“A walkout is not in anybody’s best interest, and it’s unfortunate that the union chose to do that,” AT&T said in a statement, cited by Reuters. “We’re engaged in discussion with the union to get these employees back to work as soon as possible.”

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the AT&T stock are presented as follows:

R1 – $41.71
R2 – $41.77
R3 (Range Resistance – Sell) – $41.83
R4 (Long Breakout) – $42.01
R5 (Breakout Target 1) – $42.22
R6 (Breakout Target 2) – $42.31

S1 – $41.59
S2 – $41.53
S3 (Range Support – Buy) – $41.47
S4 (Short Breakout) – $41.29
S5 (Breakout Target 1) – $41.08
S6 (Breakout Target 2) – $40.99

By using the traditional method of calculation, the weekly levels of importance for AT&T Inc (T) are presented as follows:

Central Pivot Point – $42.44
R1 – $42.83
R2 – $43.05
R3 – $43.44
R4 – $43.83

S1 – $42.22
S2 – $41.83
S3 – $41.61
S4 – $41.39