2. My next pick is nTelos Holdings. Through its subsidiaries, nTelos provides digital wireless communications services to consumers and businesses in Virginia and West Virginia, as well as parts of Maryland, North Carolina, Pennsylvania, Ohio and Kentucky. nTelos traded positive on Wednesday, closing up 3.30% to $13.79 per share.
- Wednesday's range: 13.09 - 13.80
- 52 week range: 12.32 - 23.03
- Wednesday's volume: 451,767
- 3 month average volume: 464,895
nTelos is a "rounded bottom breakout." This chart pattern has huge gain potential. nTelos appeared on my scanner yesterday when it was trading over the 50-day simple moving average. Today we need to see confirmation. With rounded bottom breakouts, we need to see follow-through. One criterion is that the chart needs to be in a downtrend. The bigger the trend, the better gain potential on a reversal.
I recommend nTelos because it is 27% under the 200-day simple moving average. Traders should target that 200-day simple moving average at $17.45. There is resistance at $14.15, $15.35 and $16.12, so watch for consolidation at these levels. Even a little pullback is fine. I'd set a stop just below Tuesday's low at $12.82.
nTelos is reporting earnings on May 7, so be watchful of that. I don't hold over earnings, but do as you see fit. Stay long until you see a confirmed sell signal or a close below the t-line.3. The next pick is Grupo Financiero Santander Mexico, which provides banking services in Mexico. Its deposit products include current checking accounts, savings accounts and time deposits, as well as certificates of interbank deposit. Santander traded positive on Wednesday, closing up 2.59% to $11.90 per share.
- Wednesday's range: 11.09 - 11.99
- 52 week range: 10.02 - 17.77
- Wednesday's volume: 4,361,655
- 3 month average volume: 2,176,790
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