Maintain AT&T (Hold) as fundamentals are compelling (10.8% FCF yield, 4.68% dividend, 2.4x coverage, +12.7% YoY operating income growth) but technicals are actively refusing confirmation—the 200 SMA declining at -4.7%, MACD histogram decayed 88% from peak, and weak volume into resistance. Add on pullback to $22.50 (50 SMA) with $22.00 stop, or on confirmed close above $24.59 with MACD re-expanding; trim on break below $22.00 on volume >40M.