Berney:" phleet "
>I actually do not like the daily on T, but these things have been reversing in mid-air. I show the entry point as $54 1/4...
...yeah, I see that; mebbe something like...
1 x 54.25 = UpTrend Line since 30-MAY
2 x 52.75 = fibonacci line
3 x 51.75 = 200d EMA area
4 x 50.25 = apparent 50~60 trading range channel support
YTD, the only way to play this T_urtle has been to buy-down 1x53 + 2x52 + 3x51 and sell-up 3x57 - 2x58 - 1x59 ( in fact, T has been an ideal "Short Strangle" for the boyz in Chicago who are selling T 50 PUTs and T 60 CALLs at either end of the railroad tracks ;-)
Who woulda thunk ol' Fidelity Magellan was sellin' off AOL and accumulatin' T + LU ?
You're right about the charts, Dude - the monthly has a horiz. support around 45 +/-2.5 and the weekly is tellin' me that this down-wave has gotta be the last drop below 55 towards 50 for that apparent UpTrend to remain intact. The daily chart and sto are tellin' me to buy-down, sell-up until you can think of something better to do, man (^_^)
...the PNX.X - Phone Phleet Index is at the top of its apparent trading range channel, the resistance area between 510~520 that has not been approached since a really beautiful "evening star" on 20-JAN; the sto looks encouraging, however; and the mo has been positive-trending since 05-APR bottom and 24-JUN first bounce.
if the PNX.X can bust outta its 510 +/-10 apparent channel top, I got the near-target = ~537 and the far target = ~564 +/-9.
hell, Berney - the phlagship of the phleet don't look all that bad to me, Dude !
I got T's earnings date as 23-July; izzat what you got ?
-Steve
PS -- added TEF - Telefonica d'Espana ADR to CORE @ ~142 during that last "Argentina" blip the other day. |
