Communication sector on the rise moving into “Improving” sector
|The Communication sector is now on the rise moving into “Improving” sector based on the Relative Rotation Graph (RRG).
Among the components of #IXC we highlight the below as interesting picks for the coming weeks based on technical analysis:
Charter Communications INC (#CHTR)
Downward channel taking place from December 2021.
Higher low on the 6 April 2021 which may lead to a reversal.
Gradually closing above the 50MA.
MACD sloping up ( a close above 0 would confirm the positive momentum).
RSI in the middle, room for upside.
Target $ 680.
Stop loss $ 600.
FOX Corporation (#FOXA)
Good risk/reward ratio (2.05).
# FOXA's recent pullback got stopped on the 50MA.
MACD sloping up.
Low RSI.
Target at $ 42.68.
Stop loss at $ 35.18.
Comcast CORP (#CMCSA)
Pullback from market high.
Fibonacci levels identified with strong support at $ 52.44.
A break of 50MA would coincide with break of downward trend-line.
Target $ 56.19.
Stop-loss $ 52.35.
Lumen Technologies INC (#LUMN)
Good level of support at $ 12.80.
MACD sloping up.
RSI low with room for upside.
A break and close above 50MA might confirm positive momentum.
Risk/reward ratio 3.18.
Target $14.56.
Stop loss $ 12.43.
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