It has been more than a year since the Bollinger bands were less than 75 cents apart as they are today. The theory is that tight bands precede a major move in one direction or the other. The trick is in choosing the right direction. On May 21st the bands were 88 cents apart and T was trading at $37. Less than a month later T was trading very close to $34 on some days. On May 21st the 50 DMA was $1.34 above the 200 DMA and T closed below the 50 DMA. Today the 50 DMA is only 16 cents above the 200 DMA which is at $35.56. Just from reading the chart and noting that the RSI is only slightly above 50, I would guess that the breakout will be to the downside and take us near $33 where there is strong support.
My daddy usta say "blessed is he that tooteth his own horn for it shall be tooted" but actually I just want to point out that Bollinger's Theory really works. I hope you made a lot of money on the way down. I think T will be fairly flat for a while. The 50 DMA is still headed down at a pretty bad angle.
My trading system needs more volatility so I am switching to VZ where the Bollinger Bands are over $2.00 apart. I'm just keeping some T 35 puts for when the T 50 crosses below the 200 DMA. That will probably be what triggers the breakout to the down side. They are now only 8 cents apart.