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Chart of the Day: Will T-Mobile Follow Other Telecoms Lower?

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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 moving average 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 …

For more, please click here to view the related idea and chart analysis on TradingView.

T-Mobile US (TMUS), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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