Market analytics: Communication sector on the rise (#IXC)

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 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 coincides 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

OTB Global Investments

15 April 2021