T-Mobile: Stock Could Move Lower

Today’s instrument is the T-Mobile US Inc. stock traded in the Nasdaq exchange under the ticker TMUS. 

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If we look at the TMUS 4H chart, we can see after its all-time high, mid-July, it experienced a gradual downtrend falling from that $150 high down to the $117 price range, a 22% drop since then, where it temporarily showed signs of slowdown and potential for consolidation. Its nearest support can be found at $116 and the closest overhead resistance at $124. Its last traded price was $117.

T-Mobile US Inc. has scheduled a third-quarter earnings announcement on 02/11/2021. If the earning expectations are surpassed, we could expect the price to move upwards.

Today, we could expect a pattern continuation and a further drop below the support level of $116 somewhere in the $112 price range. 

If however, it manages to hold the $116 support level then a case can be made for moving towards the closest resistance level at $122.

From all of us here, we wish you successful and responsible trading.

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