Although T seems to be about as low as it can go, I don't expect much of a bounce until earnings are reported. Estimates range from 40 cents a share to 52 cents with the average at 47 cents. T has beaten the average estimate by 3 cents each quarter of 2012 and each time the price of the stock has dropped after the announcement. Looks like T investors expect too much. I would not be surprised if T drops to less than $32.50 next Friday. After that I think we will be cleared for take off to $40. These are just my guesses and, as you may have noticed, I am often wrong.
We already know that investors who bet against this stock are spreading negative reports about the company to keep the buyside off the shares. They have also been loading up on put options lately. This is their reason for killing the shares. The shares have not reacted to any positive news, market moves or sector moves which is ridiculous for this company's stock. It only reacts to move down, this is not consistent with the beta or the stock sensitivity to market forces. Someone is trying to manipulate the stock price down on purpose.