October 13 Chart of the Day - T-Mobile
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T-Mobile (TMUS) is listed as one of Warren Buffet's top 30 holdings so by default the stock gets a lot of attention.
We can see historically on the monthly chart a relatively clear cup and handle chart pattern formation that turned out to be very bullish as these patterns often can. We're not real big on chart patterns, candle formations, etc but sometimes they can be so clear cut that we don't ignore them.
The chart still remains very bullish. In looking at the weekly chart we can notice more price action technical analysis structure and apply tools to create potential levels of interest in both directions.
From here traders and investors like the Oracle of Omaha himself can develop actionable trade / investment plans and strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones,
- Change Control Zones
Take a look at the charts and let us know what you think.
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