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5 Telco Stocks to Trade This Month


First up is BCE ( BCE), a company that's better-known as Bell Canada. BCE has been partaking in the performance smorgasbord in 2013, climbing double-digits since the start of the new year, but unlike U.S. peers, it hasn't kept up with the broad market. That could be about to change thanks to the technical setup in shares right now.

>>3 Tech Stocks Spiking on Big Volume

BCE spent the last month trading sideways in a rectangle pattern, a technical pattern that's formed by horizontal resistance and support levels that are boxing in shares. The pattern broke out last week on a move through the top of the pattern; that's a buy signal for traders right now. BCE's price action has been orderly since shares made their big swing low back in November, which bodes well for investors who want exposure to a less volatile name in May.

One big risk-limiter in BCE right now is the abundance of support levels that are nearby. That fact should make it easy for the firm to catch a bid if shares unexpectedly correct. If you decide to jump in here, I'd recommend keeping a protective stop at the 50-day moving average.
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