Many of you probably don’t have a telephone at home.
I’m not talking about a cell phone. I’m talking about a phone plugged into the wall.
The US Health Department reports that only 6.5% of homes are landline only, and most of them are in rural areas.
One company that services these stalwart landline customers is CenturyLink (CTL). It’s not a high-growth...
CTL has formed a weekly swing low failure and has also formed weekly bullish divergence. These are generally strong indications of a reversal, More so since they are showing on a weekly time frame.
Moving average guide (All Weekly for this post):
50 weekly moving average in Green.
100 weekly moving average in Yellow.
200 weekly moving average in Red.
There should be a bounce on the red line (bottom); it would be a safe play to take this long after the bounce; but beware of it trying to enter the blue channel;
that is why its better to wait for the bounce;
once the bounce occurs, we could potentially take this up to 23 or 24
Century Link has reversed its downtrend and is heading up:
1) Down trend line broken;
2) Resistance at 22.40$ broken:
3) 50 day EMA crossed above 200 day EMA (see green arrow on chart);
Buy at market ( now 23.19$);
Target (s): 26.50$ - 27.50$ ;
Stop: A 2 days close Below 22.40$ or an 2% break of 22.40$ = 21.95$;
IMO, an aggressive buyer from 13 would have been able to take out the short established positions above it at 25 and 19.
It has yet to do that, but it did respond to the 1995 fair price at 13.
So my logic is that CTL needs to auction lower to entice a large aggressor to buy. It's just intermediate term buyers at this point participating.
The large aggressor may...