I just finished writing Options Update focusing on Research in Motion Limited (RIMM: sentiment, chart, options) and decided I would take a look at AT&T (T) a natural move, right? Well, I made this leap because I found in my research that AT&T will have an exclusive relationship with RIMM for the new Bold. With RIMM enjoying record performance today, I thought T may have rocketed higher as well. I guess I wasn't right there, as T has added slightly more than half a percent in the day's trading.

Technically, the stock is battling overhead resistance in the form of the 39 level. The shares have met their demise at the hands of the level's resistance in 3 of the previous 6 weeks; we will see if the situation happens again. The good news is that T's 10-week moving average has completed a bullish cross with its 20-week counterpart, which often suggests that further upside is in the cards. That said, the last bullish cross I found on a weekly chart for T was followed by a quick pullback into the 36 region. Keep an eye on this technical formation and see what materializes.