T-Mobile - Hangin' at Support, Upside in a Neat Range [1d chart]. . .

holsturr (43)in #money • 6 years ago (edited)

There's a lot going on with T-Mobile lately.

Despite the Great 5G Debate, regulatory concerns, and a third-times-the-charm merger attempt with Sprint, T-Mobile is trading in a somewhat predictable, relatively established range.

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The fundamentals of the stock put it in a precarious spot with outside uncontrollable governmental and economic forces dictating the speculative sentiment of its price.

But from a technical standpoint, T-Mobile (TMUS) is offering buyers a cheap entry point at the bottom of a short-term trading range that nicely corresponds with some more established, longer-term historic support zones.

T-Mobile might be at the bottom of a nice, neat range, but the price activity of the last few trading days may indicate a bear flag situation tracing out, which could presumably send the stock price down into the ~$51.50 USD area - but, with price already at historic support and the support of the recent trading range, traders can make a case for a bear flag not playing out at all, and T-Mobile returning to recent highs of $65.00-$66.00 in the next couple weeks - or higher in the next couple months, especially with speculative merger interest.

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