According to Judge Richard Leon, who is on the US District Court for the District of Columbia, the start date for the trial, which is to determine if AT&T Inc (T) can acquire Time Warner Inc, may be postponed by one day – to March 20th.
AT&T shares closed higher for the first time in the past four trading sessions on Friday. The stock went up 0.97% ($0.35) to $36.35, with the intraday high and the intraday low being at $36.40 and $35.95 respectively.
In the week ended on March 4th the shares of the communication service provider lost 1.01% of their market value compared to a week ago, which marked a second consecutive period of decrease.
The stock has edged up 0.14% so far during the current month, following a 3.07% slump in February. The latter has been a second consecutive month of losses.
For the entire past year, the shares of the NYSE-listed company retreated 8.58%, following a 23.60% surge in 2016.
According to Leon, the initial date, March 19th, may be needed for the hearing of final pre-trial motions.
Meanwhile, Craig Conrath of the US Justice Department said he did not favor any delay, due to the inconvenience for witnesses who need to travel to Washington for the trial.
The US Justice Department has attempted to prevent AT&T from acquiring Time Warner for $85 billion due to concerns such an event might raise prices for competitors as well as for pay-TV subscribers and hinder on-line video development.
According to CNN Money, the 23 analysts, offering 12-month forecasts regarding AT&T Inc’s stock price, have a median target of $41.00, with a high estimate of $48.00 and a low estimate of $26.00. The median estimate is a 12.79% surge compared to the closing price of $36.35 on March 2nd.
The same media also reported that 17 out of 26 surveyed investment analysts had rated AT&T Inc’s stock as “Hold”, while 5 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, Monday’s levels of importance for the AT&T stock are presented as follows:
R1 – $36.39
R2 – $36.43
R3 (Range Resistance – Sell) – $36.47
R4 (Long Breakout) – $36.60
R5 (Breakout Target 1) – $36.74
R6 (Breakout Target 2) – $36.81
S1 – $36.31
S2 – $36.27
S3 (Range Support – Buy) – $36.23
S4 (Short Breakout) – $36.10
S5 (Breakout Target 1) – $35.96
S6 (Breakout Target 2) – $35.89
By using the traditional method of calculation, the weekly levels of importance for AT&T Inc (T) are presented as follows:
Central Pivot Point – $36.62
R1 – $37.37
R2 – $38.39
R3 – $39.14
R4 – $39.89
S1 – $35.60
S2 – $34.85
S3 – $33.83
S4 – $32.81
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