AT&T (T.US) stock jumped more than 3% after the company boosted its forecasts for global HBO Max and HBO subscribers to 120-150 million from the previous projection of 75-90 million. AT&T is planning to reach this target by the end of 2025 as more people turn to cheaper streaming services for entertainment. The media and telecom company is planning to launch an advertising-supported version of HBO Max in the US in June. HBO Max will expand internationally to 60 markets in the ongoing year the company said. According to the company's new estimates, the revenues of the HBO business unit are expected to double in the next five years.
AT&T (T.US) stock has been trading in a sideways move since December. During today's session stock broke above resistance zone at $30.25 but buyers failed to uphold momentum and price pulled back. However, as long as the price sits above the lower limit of the ascending channel, the trend remains upward. On the other hand, in case of a break lower, the next support to watch lies at $29.15 and is additionally strengthened by 50 SMA (green line) and 200 SMA (red color). Source: xStation5
