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Communication sector on the rise moving into “Improving” sector

Francesco Bergamini OTB Global Investments

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.

Author

Francesco Bergamini

OTB Global Investments

Francesco, BSc Finance and Msc in Business Management, graduated with Merit, is a professional with experience in the financial services industry and a keen interest in the financial markets.

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