by Sam Collins | July 12, 2013 1:08 am
CenturyLink (CTL) — This integrated communications company is forecast by S&P to have a 1% decline in revenues in 2013. Although earnings are projected to increase to $2.75 this year, up from $2.67, consensus earnings for 2014 are just $2.78. The stock has been supported by a 6.1% dividend yield, but that could be in jeopardy.
Half of a wide downside gap that opened in February has been covered by a rally that ended in May. But the stock failed to reverse the downtrend and instead now challenges the resistance line at $36. Support is at $34.
With buying volume diminishing compared to selling volume and the MACD overbought, CTL should be sold.
Source URL: http://investorplace.com/2013/07/trade-of-the-day-centurylink-ctl/
Short URL: http://invstplc.com/1bamF38
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.