Telecomm Leading the Market

The Telecomm Sector is strongest area in today's market, currently up 1.1% on the session. The strongest stocks in the S&P 500 Telecom Sector currently are: 1) Verizon Communications VZ: Shares of Verizon Communications are currently trading up 1.7% from yesterday's close to $23.85. The stock has recently built strong support around $35. After that, no support comes into play until $32.94. 2) AT&T T: Shares of AT&T are currently trading up 1.4% from yesterday's close to $30.85. The stock is looking to break above its 50-day simple moving average (one year daily chart), which is currently at $30.91. A bearish head and shoulders formation appears to be taking shape on a one year daily chart. 3) American Tower AMT: Shares of American Tower are currently trading up 0.8% from yesterday's close to $50.51. The stock has been stuck in a tight consolidation range since June 10th. 4) MetroPCS Communications PCS: Shares of MetroPCS are currently trading up 0.6% from yesterday's close to $16.07. The stock has lost 14.4% since hitting a 52-week high of $18.79 on May 19th. 5) CenturyLink CTL: Shares of CenturyLink are currently trading up 0.5% from yesterday's close to $39.70. The stock's 50-day simple moving average recently crossed below its 200-day simple moving average (one year daily chart), which is a bearish technical indicator known as the “Death Cross.”