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TMUS pushes through 200-day moving average


Technical Analysis Report for TMUS - Apr 16, 2018 [1 min read]
Highlights
TMUS closes above its opening price after recovering from early selling pressure
TMUS pushes through 200-day moving average
TMUS unable to break through key resistance level
TMUS finds support at 200-day moving average
TMUS finds buyers again around 61.81
TQ Sentiment
Technical Forecast:
Overview

TMUS finished Monday at 62.75 gaining $0.80 (1.29%). Trading up to $0.54 lower after the open, T-Mobile US 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 the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for TMUS
Volatility

Monday's trading range was $1.23 (1.97%), that's slightly below last trading month's daily average range of $1.36. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. After moving lower in the previous session, the share managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Support/Resistance

Unable to break through the key technical resistance level at 62.91, the market closed below it after spiking as high as 63.04 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move lower than 61.79 in the previous session, the stock found buyers again around the same price level today at 61.81. After trading as low as 61.81 during the day, TMUS found support at the 200-day moving average at 62.02.

Trend

T-Mobile US shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The share managed to break above the 200-day moving average at 62.02 today for the first time since April 10th.

Order Flow

Selling might speed up should prices move below the nearby swing low at 61.79 where further sell stops could get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Resistance R1 TQ Pro Members Only
Bullish Bounce off SMA 200 TQ Pro Members Only
Bullish Break through SMA 200 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Bullish Harami Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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