Buy a Cheap Phone
- Posted by Greg Harmon
- on May 29th, 2012
The big telecommunications and internet companies Verizon, $VZ, and AT&T, $T, have been great stores of value the last few months. Now there may be some smaller players emerging that are either being dragged higher on their coattails or trying to catch up. Here are 3 to watch.
Frontier Communications, $FTR
Frontier Communications, $FTR, has been in a nearly 18 month decline but may be showing sighs or a turn around. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicator both support a move to the upside and the price moved above the 20 day Simple Moving Average (SMA) Tuesday. It has been in this situation before only to be halted at the 50 day SMA, so it is not out of the woods yet. But even a move to that 50 day SMA is 11% higher.
Leap Wireless, $LEAP
Leap Wireless, $LEAP, has been basing after a gap down in late April. Since then the RSI and MACD have been trending higher and now the price is pushing against resistance at 5.87 with the Bollinger bands opening. A move over that resistance has a gap to fill starting at 6.29 and up to 7.69 with the 50 day SMA along the way.
Sprint, $S, may be the best set up of the three. The RSI is in bullish territory with a MACD that is positive and trending higher as it touches the 200 day SMA. The Bollinger bands are expanding and the volume is increasing. A move over 2.75 has resistance at 2.95-3.00 and then some room to run higher.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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