Is Telecom Argentina SA (ADR) (TEO)’s Fuel Running High? The Stock Formed Wedge Up

June 19, 2017 - By Maria Brooks

The stock of Telecom Argentina SA (ADR) (TEO) formed an up wedge with $27.71 target or 7.00 % above today’s $25.90 share price. The 9 months wedge indicates low risk for the $2.55B company. If the $27.71 price target is reached, the company will be worth $178.50M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

About 55,636 shares traded. Telecom Argentina SA (ADR) (NYSE:TEO) has risen 35.98% since June 19, 2016 and is uptrending. It has outperformed by 19.28% the S&P500.

Telecom Argentina SA (ADR) (NYSE:TEO) Ratings Coverage

Among 7 analysts covering Telecom Argentina (NYSE:TEO), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. Telecom Argentina had 10 analyst reports since July 28, 2015 according to SRatingsIntel. As per Thursday, October 8, the company rating was upgraded by Santander. The firm has “Neutral” rating given on Thursday, May 12 by JP Morgan. The stock has “Outperform” rating by Raymond James on Tuesday, July 28. The rating was upgraded by Goldman Sachs on Monday, November 23 to “Neutral”. The stock of Telecom Argentina SA (ADR) (NYSE:TEO) has “Sell” rating given on Monday, September 28 by Goldman Sachs. The rating was upgraded by Morgan Stanley on Tuesday, September 6 to “Overweight”. The stock has “Buy” rating by HSBC on Thursday, May 12. Zacks upgraded the stock to “Hold” rating in Tuesday, September 22 report.

More important recent Telecom Argentina SA (ADR) (NYSE:TEO) news were published by: Seekingalpha.com which released: “Telecom Argentina’s (TEO) Management on Q4 2016 Results – Earnings Call Transcript” on March 10, 2017, also Benzinga.com published article titled: “JPMorgan Upgrades Telecom Argentina, Sees 6% Upside Due To ‘Unfrozen Wireline …”, Quotes.Wsj.com published: “Telecom Argentina SA ADR TEO (US: NYSE)” on February 11, 2011. More interesting news about Telecom Argentina SA (ADR) (NYSE:TEO) was released by: Prnewswire.com and their article: “Telecom Argentina SA announces the first payment of dividends for the fiscal …” with publication date: May 02, 2016.

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