América Móvil, S.A.B. de C.V. provides telecommunications services in
the United States, Latin America, and the Caribbean. It offers mobile
and fixed voice services, including airtime, local, long-distance
services, public telephony services, and network interconnection
services. The company also provides value added services comprising
short message services, multimedia messaging services, and mobile
entertainment services; and data services, such as data transmission,
e-mail services, Web browsing, instant messaging, content streaming, and
interactive applications, as well as corporate network services. In
addition, it offers handsets, smartphones, broadband cards, and tablets;
accessories consisting of chargers, headsets, belt clips, and
batteries; push-to-talk services; and other wireless services that
include two wave, PC and wireless security, and machine-to-machine
services, as well as Oficina Móvil Telcel, a services suite to enhance
applications, video calls, and mobile banking.
Please take a look at the 1-year chart of AMX (América Móvil, S.A.B. de C.V.) below with my added notations:
Movil's stock had been trading in mostly a sideways range from March
through October. Several times over that period the stock also formed a
key resistance level at around $22 (blue). Back in November the stock
finally broke up out of its base and above that important $22 level. So,
assuming AMX holds $22, the stock should be moving overall higher from
here.
The Tale of the Tape: AMX had a key level of
resistance at $22 that should now act as support on any pullbacks. A
long trade could be entered on a pullback to $22 with a stop placed
below that level. A break back below $22 could negate the forecast for a
move higher.
Please share this article
No comments:
Post a Comment