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.
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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV