Telecom leader T-Mobile (TMUS) is rallying Friday after the company reported their latest quarterly numbers. Let's check out the charts and indicators.
In the daily bar chart of TMUS, below, we can see that the shares are in an uptrend from late January. Prices have gapped higher Friday and have pushed above some prior resistance in the $145-$148 area. TMUS is trading above the bottoming 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line declined in August and September but has been improving in October. The Moving Average Convergence Divergence (MACD) oscillator has been improving since late September and is likely to cross above the zero line today for an outright buy signal.
In the weekly Japanese candlestick chart of TMUS, below, the latest price action has not yet been plotted. We can use our imagination to visualize prices breaking over the highs of 2022 and 2021. TMUS is above the rising 40-week moving average line.
The weekly OBV line has been steadily improving from January. The MACD oscillator is above the zero line and narrowing towards a new outright buy signal.
In this daily Point and Figure chart of TMUS, below, we can see a potential upside price target in the $191 area.
In this weekly Point and Figure chart of TMUS, below, we can see a price target in the $193 area.
Bottom-line strategy: Back on June 2 we gave a positive outlook for TMUS. Today is another positive review with the shares making new highs for the move up. Our new prices targets are in the low $190's. Risk to $138.
