Statistics of Price Movements of AT&T Inc (T)

The price movements of AT&T Inc (ticker T) are summarized in five ways:

• Table 1. Statistics of daily price changes using the closing prices
• Table 2. Statistics of daily price changes using the closing and opening prices
• Table 3 – 7. Statistics of daily price changes when T opened with an increase of 1%, 2%, 3%, 4%, or more than 5%
• Table 8 – 10. Statistics of stock price changes in the 20 days after T had a big price move
• Table 11. Statistics of daily price changes in the 20 days after T moved 5% with twice the 30-day average volume

The statistics are calculated using T's price data across 1,549 trading days from 2015 to 2020.

Table 1. Statistics of T one-day price changes

In this table, the one-day price change is calculated using the closing price and the previous day's closing price.

In the past 1,549 trading days, 49.9% of the time (773 days), T closed above the previous day's closing price. 45.7% of the time (708 days), it closed below the previous day's closing price. 4.3% of the time (67 days), it did not change.

Also see: VIX price movement study.

T Price Change (%)	Number of Days	% of Total Sessions
10 – 11%	1	0.06%
7 – 8%	2	0.13%
6 – 7%	1	0.06%
5 – 6%	3	0.19%
4 – 5%	6	0.39%
3 – 4%	15	0.97%
2 – 3%	43	2.78%
1 – 2%	171	11.05%
0 – 1%	531	34.30%
0%	67	4.33%
0 – -1%	458	29.59%
-1 – -2%	175	11.30%
-2 – -3%	35	2.26%
-3 – -4%	23	1.49%
-4 – -5%	6	0.39%
-5 – -6%	3	0.19%
-6 – -7%	4	0.26%
-7 – -8%	1	0.06%
-8 – -9%	2	0.13%
-9 – -10%	1	0.06%

Table 2. Statistics of T: Closing vs. Open

In this table, instead of using the closing price of the previous day, the opening price is used to calculate the one-day price change of T.

48.0% of the time (743 days), T closed above the opening price. 46.9% of the time (727 days), it closed below the opening price. 5.1% of the time (79 days), it closed where it started.

Closing - Open (%)	Number of Days	% of Total Sessions
6 – 7%	1	0.06%
5 – 6%	2	0.13%
4 – 5%	2	0.13%
3 – 4%	6	0.39%
2 – 3%	27	1.74%
1 – 2%	151	9.75%
0 – 1%	554	35.77%
0%	79	5.10%
0 – -1%	535	34.54%
-1 – -2%	135	8.72%
-2 – -3%	39	2.52%
-3 – -4%	14	0.90%
-4 – -5%	3	0.19%
-6 – -7%	1	0.06%

Table 3. One-day performance when T opened 5% higher than previous close

In the past 1,549 trading days, T opened more than 5% higher than the previous day's closing price 1 times. Of these days, 100.0% (1 days) had closing prices above the opening price, and 0.0% (0 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
4 – 5%	1	100.00%

Table 4. Closing vs. open when T opened 4–5% higher

On 3 days, T opened 4–5% higher than the previous day's closing price. Of these days, 66.7% (2 days) had closing prices above the opening price, and 33.3% (1 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
1 – 2%	1	33.33%
0 – 1%	1	33.33%
-2 – -3%	1	33.33%

Table 5. Closing vs. open when T open 3 – 4% higher

6 times T opened 3 – 4% higher than the previous day's closing price. Among these days, 50.0% (3 days) closed above the opening price, 50.0% (3 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
3 – 4%	1	16.67%
1 – 2%	1	16.67%
0 – 1%	1	16.67%
-1 – -2%	1	16.67%
-2 – -3%	1	16.67%
-4 – -5%	1	16.67%

Table 6. Closing vs. open when T open 2 – 3% higher

14 times T opened 2 – 3% higher than the previous day's closing price. Among these days, 57.1% (8 days) closed above the opening price, 42.9% (6 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
1 – 2%	3	21.43%
0 – 1%	5	35.71%
0 – -1%	1	7.14%
-1 – -2%	2	14.29%
-2 – -3%	2	14.29%
-3 – -4%	1	7.14%

Table 7. Closing vs. open when T open 1 – 2% higher

44 times T opened 1 – 2% higher than the previous day's closing price. Among these days, 56.8% (25 days) closed above the opening price, 40.9% (18 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
3 – 4%	1	2.27%
2 – 3%	1	2.27%
1 – 2%	8	18.18%
0 – 1%	15	34.09%
0%	1	2.27%
0 – -1%	10	22.73%
-1 – -2%	7	15.91%
-2 – -3%	1	2.27%

Table 8. Periods when T moved 15% or more

In this table, we track the price movements in the 20 days after T had a one-day price change of at least 15%.

Date	Price Change	Price Change after 15% Move
Days after:		1	4	7	10	13	16	19

Table 9. Periods when T moved 10% or more

In this table, we track the price movements in the 20 days after T had a one-day price change of at least 10%.

Date	Price Change	Price Change after 10% Move
Days after:		1	4	7	10	13	16	19
20200313	10%	-7.7	-9.6	-18.5	-13.4	-18.6	-14.6	-10.9

Table 10. Periods when T moved 5% or more

In this table, we track the price movements in the 20 days after T had a one-day price change of at least 5%.

Date	Price Change	Price Change after 5% Move
Days after:		1	4	7	10	13	16	19
20200313	10%	-7.7	-9.6	-18.5	-13.4	-18.6	-14.6	-10.9
20200326	7.7%	-2.5	-8.3	-3.8	.4	1.7	2.1	-3.7
20200406	7.2%	2.2	4.4	2.2	5.2	.2	4.1	1.6
20200317	6%	-2.6	-20.7	-9.3	-13.6	-18.6	-11.4	-10.5
20201022	5.8%	-1.6	-6.3	-3.3	-2.7	2.0	2.2	1.2
20200302	5.5%	-2.4	-.4	-7.2	-14.4	-16.2	-24.4	-19.7
20200304	5.1%	-2.6	-6.1	-9.7	-14.0	-29.9	-19.9	-23.7
20200319	-5.1%	-8.7	-8.8	-3.0	-7.7	-3.4	-1.3	-3.4
20180426	-5.9%	-.2	-3.1	-3.2	-3.7	-3.1	-3.2	-2.3
20200323	-5.9%	4.9	11.5	4.8	10.0	14.8	16.3	16.7
20171012	-6.1%	-.4	-.4	-1.7	-6.1	-6.2	-7.1	-6.7
20200611	-6.1%	1.1	.3	-.2	-1.5	.2	1.1	-2.1
20180613	-6.2%	.9	.5	-1.6	-1.8	-.0	1.2	.9
20200309	-6.3%	3.3	-.6	-5.3	-22.8	-11.8	-16.0	-20.8
20200316	-7.7%	6.1	-10.6	-10.7	-5.0	-9.6	-5.4	-3.4
20181024	-8%	-1.3	.4	.5	2.4	1.4	-.8	-3.1
20200320	-8.6%	-5.9	7.6	2.5	-3.5	5.1	6.1	6.0
20200312	-9.2%	10.0	4.9	-14.6	-2.3	-7.0	-12.4	-4.6

Table 10a. T average price changes following a 5% up day

Of the 1,549 trading days from 2015 to 2020, there were 7 days in which T was up more than 5%. This table shows the average price changes over the 7 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 5%	-2.5	-6.7	-7.1	-7.5	-11.3	-8.8	-9.4

Table 10b. T average price changes following a 5% down day

Of the 1,549 trading days from 2015 to 2020, there were 11 days in which T was down more than -5%. This table shows the average price changes over the 11 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -5%	.9	.1	-3.0	-3.8	-1.8	-2.0	-2.1

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Also see: VIX price movement study.