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AT&T trade reaches bearish daily RSI divergence

April 7, 2014

The trade in AT&T (T) v iShares U.S. Telecommunications (IYZ) has progressed well since it was opened on 14 March, following bullish divergences on the 14 week RSI and the Performance Rank

The daily chart now shows bearish RSI divergence. This has been updated to include the action as of 5:20pm UK time on Monday 7th April.

Daily chart

TIYZ070414

With T at $35.68 and IYZ at $29.32, there is a profit of 8.4%.

I will take profit on the entire position, as I will be away twice during April. An alternative tactic would be to take half of the profit now and move the stop loss up to just below the 01 April low.

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