Is MetroPCS Expecting Resistance Soon?
Published on Monday, 03 December 2012 08:36 Written by TradersHuddle Wire
New York, December 3rd (TradersHuddle.com) - MetroPCS Communications, Inc. (NYSE:PCS) ended the trading session at $10.65, near its 50 day moving average set at $11.05. MetroPCS' price action placed the stock below this important level, which makes it difficult to be bought, as the stock will certainly face resistance as it approaches its 50 day moving average.
MetroPCS Communications, Inc. (NYSE:PCS) is a wireless communications provider in the United States. The Company offers unlimited wireless voice and data services to the mass market under prepaid plans
The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $10.12 and resistance at $11.40. These levels will be closely monitored, as they provide great insight into the latest price dynamics.
If traders want to establish a position in MetroPCS, given the resistance expected as the stock approaches its 50 day moving average, a trade might materialize as the stock manages to break this important technical level. After the breakout, the 50 day moving average could be used as support going forward. However, until the break materializes, buying the stock is basically a gamble with 50-50 chance.
- Meadowbrook Insurance Group, Inc. Sued by Investor
- Meadowbrook Insurance Group, Inc. Receives Bank Waiver Under Credit Facility
- Meadowbrook's Comment on Class Action Complaint
- Harwood Feffer LLP Announces Investigation of Meadowbrook Insurance Group, Inc.
- Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Meadowbrook Insurance Group, Inc.
- Pomerantz Law Firm has filed a Class Action Against Meadowbrook Insurance Group, Inc. and Certain Officers - MIG
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Meadowbrook Insurance Group, Inc. -- MIG
- Meadowbrook Insurance Group, Inc. Announces That It Has Filed A Form 12b-25 To Allow The Filing Of The Company's Form 10-Q By August 14, 2013
- Meadowbrook Insurance Group, Inc. Announces Agreement to Provide "A" Rated Policy Issuance Solution
- Meadowbrook Insurance Group, Inc. Comments On A.M. Best Decision To Downgrade Rating For Meadowbrook Insurance Group, Inc. And Its Subsidiaries
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines