BCE SHORT TRADEBCE is at a strong resistance area and i expect a lot of sellers to short the stock in this area, and with the RSI being overbought i think this could be a good short trade
SL above the previous high at 49.64
BCE trade ideas
BCE Telecommunications breaking out. BullishAs Canada’s biggest communications firm, BCE (NYSE:BCE) essentially has a moat. In this day and age, no one can survive without internet access. As such, BCE leverages extensive broadband and wireless networks that have a value north of $4 billion. The company’s broadband footprint extends out to 9.2 million locations, and it offers LTE wireless coverage for almost every Canadian.
Shares have grown slowly and steadily since the beginning of the year, suggesting the worst of the volatility is behind it. Second, BCE’s revenues have steadily increased over the past three years, and we’re on pace for a fourth. Finally, BCE offers a generous 5.15% dividend yield, which the company can support.
Last year, the telecom firm had $5.8 billion in operating cash flow, and $2.6 billion FCF. Unless Canadians suddenly stop using the internet, you can trust BCE.
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COMPANY PROFILE
BCE, Inc. is a telecommunications and media company, which engages in the provision of communication services to residential, business, and wholesale customers. It operates through the following segments: Bell Wireless, Bell Wireline and Bell Media. The Bell Wireless segment covers integrated digital wireless voice and data communications products and services to residential and business customers. The Bell Wireline segment offers data, including Internet access and Internet protocol television, local telephone, long distance, as well as other communications services and products to residential, small and medium-sized business, and large enterprise customers. The Bell Media segment includes conventional, specialty and pay television, digital media, radio broadcasting services, and out-of-home advertising services. The company was founded on February 25, 1970 and is headquartered in Verdun, Canada.
BCE topsNice tops here at the ATH. Definitely a great stock to be in when market is in loony mode. Up here it's a short, especially since they always prop it up going into dividends. Nice MFI divergence too.
holding by a stringthat was a sharp drop last time. sitting at 7 year support. looking at June P's 35. almost seems too cheap $SPY
BCE stock could be in for a bullish breakoutFollowing a double bottom pattern maybe BCE has finally found a bottom, if the bull move continues we are looking at a target of 43 with a volatility stop around 39.20.
Maybe just wait for the price to keep increasing to make sure this is not in fact a double top, in which case the movement could be bearish. I am siding on bullish though because of the direction of the MACD indicator (going up).
Let me know what you think in the comments, and like to share this idea with more people.
BCE has bounced here beforeBCE has fallen down to 53.00 before, looks like a buying opportunity. Ride this back to 55.00.
BCE with too tight stopBefore the trade: price will go down because the price is at the support level
After the trade: that you were to tight with stop loss, after that you have a new rule that stop loss should be set few tick above the previous top. NOt very good trade but you learn that you still have too tighs stops.
BCE Falls to 53 then an Accumulation PhaseBCE will mostly likely weaken until earnings, heading to 53.00, then investors buy it for the juicy dividends (5.5%) over the summer before heading higher.
Swing on BCESolid support line. I don't think I will have enough buying power left over to get into this stock but looks desirable.
