TMUS ends the day on a bullish note closing near the high of the day
T-Mobile US Inc. (TMUS) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
TMUS finished the week 5.57% higher at 64.98 after gaining $0.01 (0.02%) today. Trading up to $0.58 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (TMUS as at Aug 10, 2018):
Friday's trading range was $1.14 (1.76%), that's slightly below last trading month's daily average range of $1.25. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 64.06 and 65.74 which it has been in now for the last three days.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the nearby swing high at 65.74 where further buy stops could get activated. With prices trading close to this year's high at 66.52, upside momentum might accelerate should the share be able to break out to new highs for the year.