Telecom stocks have mostly fallen in recent months. One exception has been T-Mobile US. Could it soon follow its peers lower?
The first pattern on today’s chart is TMUS’s break below its 100-day simple moving average (SMA) in late September. Price bounced there several times this year (see white arrows), but this time spent more than a week under it. That could indicate the SMA is losing importance as support.
Second, the stock rebounded to its 50-day SMA this week but wasn’t able to remain above it. Is this line new resistance?
Next, Tuesday’s high and September’s low may have established a downward-sloping parallel channel.
Fourth, the most recent bounce returned stochastics to an overbought condition.
Finally, TMUS is near its 2021 high but still below it. That could make some holders worry it’s rangebound and lose interest in remaining enthusiastically long.
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This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing in cryptocurrencies involves significant risks. Please click here for TradeStation Crypto’s risk disclosures on investing and trading in cryptocurrencies.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.
The first pattern on today’s chart is TMUS’s break below its 100-day simple moving average (SMA) in late September. Price bounced there several times this year (see white arrows), but this time spent more than a week under it. That could indicate the SMA is losing importance as support.
Second, the stock rebounded to its 50-day SMA this week but wasn’t able to remain above it. Is this line new resistance?
Next, Tuesday’s high and September’s low may have established a downward-sloping parallel channel.
Fourth, the most recent bounce returned stochastics to an overbought condition.
Finally, TMUS is near its 2021 high but still below it. That could make some holders worry it’s rangebound and lose interest in remaining enthusiastically long.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing in cryptocurrencies involves significant risks. Please click here for TradeStation Crypto’s risk disclosures on investing and trading in cryptocurrencies.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.