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Trade of the Day: T-Mobile US Inc (NASDAQ:TMUS)

With the latest Galaxy out of the race, it's all about the iPhone 7


To receive further updates on this T-Mobile US Inc (NASDAQ:TMUS) trade as well as an alert when it’s time to take profits, sign up for a risk-free trial of Momentum Options today.

Apple Inc. (NASDAQ:AAPL), namely its impending iPhone upgrade, could play a major role in market direction this month. Rival Samsung’s recent issues and the decision to stop sales of its Galaxy Note7 smartphones will hurt the company over the near term, as this is going to be a major inconvenience and their customers may replace their current devices with Apple products.

Sure enough, demand for the upcoming iPhone 7 has been strong enough that T-Mobile US Inc (NASDAQ:TMUS) CEO John Legere was able to report “the biggest pre-order in T-Mobile’s history.” My Momentum Options subscribers and I recently closed a bullish TMUS position for a slight profit, and now I’m looking to give it another go.

Buy to open the TMUS October 48 calls (TMUS161021C00048000) for a maximum price of $0.90.

Shares traded up to $46.29 on Wednesday and just missed holding $46 and the 50-day moving average. Resistance is at $46–$46.25. Support is at $45.50–$45.25.

To receive further instructions on this trade, please sign-up for a risk-free, 60-day trial of Momentum Options and take advantage of 50% off the introductory rate for the next three days only.

Article printed from InvestorPlace Media,

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