Tight Price Action in T-Mobile

BATS:TMUS   T-Mobile US, Inc.
T-Mobile US rallied to new highs in late 2023, and now some traders may expect continuation to the upside.

The first pattern on today’s chart is the breakout in early December, followed by sideways movement. That may suggest buyers have become comfortable with the new levels.

Second, Bollinger Band Width has narrowed. Could such tight price action give way to expansion?

Third, TMUS made a weekly low at $159.59 in late January. The stock has remained above that level since, another potential sign of support developing above previous highs.

Next, Friday’s close was slightly above a falling trendline along the highs of March and early April. That could make some chart watchers expect a breakout.

Finally, prices are trying to get above the 50-day simple moving average (SMA) and seem to have held the rising 100-day SMA. Those could be considered potentially bullish signals over the intermediate and longer time frames.

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