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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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.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
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 or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com...isclosureTSCompanies for further important information explaining what this means.
