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Potential Breakout in T-Mobile

BATS:TMUS   T-Mobile US, Inc.
T-Mobile US has barely moved since mid-2021, but now it may be attempting a breakout.

The first pattern on today’s chart is the series of higher lows since June. Notice how the wireless stock apparently broke the top of that ascending triangle last month. That may signal continuation to the upside.

Next, a falling trendline along the highs of November 2022 and April 2023 offered resistance. But, it gave way last week.

Third, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA three weeks ago. That may suggest the longer-term trend is getting bullish again.

Finally, TMUS ended last week near the previous record closing price from exactly a year before. Further upside from here could potentially draw money from the sidelines.

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