- T-Mobile US. (NASDAQ: TMUS) price prediction reveals the bearish to sideways price action for the TMUS stock price
- TMUS stock surged 5.56% in the last one month
- TMUS stock price is facing rejection at the local resistance of $139.64
T-Mobile US.’s (NASDAQ: TMUS) price prediction suggests that the stock price is trading in a bearish to sideways momentum. The TMUS stock price has been between the range of $150 and $139, since October 2022. The price broke the support in May 2023, leading to a downfall of 10.66% reaching the support level of $125.11, before the recovery to its current market price.
At the time of writing, T-Mobile US closed its trading session on Tuesday, 18th July 2023 at $138.45. This marked a surge of 0.33% over the previous day.
Can T-Mobile US Resume its Recovery to the Higher Levels?
T-Mobile US’s stock price prediction points to selling pressure, which led the price to break the resistance and fall to lower levels. The TMUS stock price broke below the 200 EMA on the daily time frame, suggesting the presence of aggressive sellers. Meanwhile, the TMUS stock price managed to recover 124.43% from its swing low.
As of now, the TMUS stock price is testing the resistance level of $139.64. It’s getting a rejection at the 200 EMA, which aligns with the resistance. If the bulls are unable to break the resistance, the selling pressure may drag the price back to the lower support levels.
Will the TMUS Stock Price Break Above the Resistance?
The 4-hour chart shows that the price is making a pullback from its recent move down. Also, momentum has faded as the TMUS stock price has recovered to its current levels. The diminishing volume creates a divergence with the rising price, which hints at a possible reversal.
The TMUS stock price is below the 200 EMA, which is a bearish sign in the short term. Meanwhile, the 9, 15, and 200 EMAs are close to each other while moving flat. It means that the price may consolidate in the short term before making a move in a specific direction. The selling pressure is increasing the chances of further downfall.
RSI: The RSI indicator is currently at 54.41. It represents a bullish to a sideways condition where the market moves up aggressively if the RSI goes below 70
MACD: MACD made a bearish crossover above the 0 line. It suggests that the market may get some correction but the price won’t fall aggressively until the indicator goes below the 0 line.
200 EMA: On the 4-hour chart, the price is trading below the 200 EMA. This is a bearish sign and an indication that the sellers are in control. The 200 EMA acts as a dynamic resistance and the prices may continue to move down until the price breaks above the indicator.
Conclusion:
T-Mobile US’s (NASDAQ: TMUS) price prediction suggests that the stock price is trading with bearish to sideways momentum. The TMUS stock price has been on the rise for the past few days. However, the market struggles against the local resistance, giving some initial signs of rejection. If this continues, the prices are likely to move to the downside. It would be wise to wait for the break of the resistance before considering buying.
Technical Levels
- Support level: $130.41
- Resistance level: $139.64
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