T-MOBILE US INC (NASDAQ:TMUS) showing some interesting technicals. Here's why.

T-MOBILE US INC (NASDAQ:TMUS) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NASDAQ:TMUS.

What is the technical picture of NASDAQ:TMUS telling us.

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Taking everything into account, TMUS scores 7 out of 10 in our technical rating. Although TMUS is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• TMUS is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• When compared to the yearly performance of all other stocks, TMUS outperforms 69% of them, which is more or less in line with the market.
• TMUS is part of the Wireless Telecommunication Services industry. There are 22 other stocks in this industry, TMUS did better than 57% of them.
• In the last month TMUS has a been trading in a tight range between 160.62 and 166.50.

For an up to date full technical analysis you can check the technical report of TMUS

How does the Setup look for NASDAQ:TMUS

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NASDAQ:TMUS currently holds a 8 as its setup rating, suggesting a particular level of consolidation in the stock.

TMUS has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 165.16. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 164.88, a Stop Loss order could be placed below this zone.

Trading setups like NASDAQ:TMUS

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.