The Communications Sector Is Breaking Out

17 thg 11, 2023

Communications could be on the verge of a strong breakout as price has broken, and stayed above, the $69.50 area.

Many of the top stocks in the sector are running on the back of strong earnings, like Meta, Netflix, and Disney:

META:



NFLX:



DIS:



Buying shares now and risking to $67 could be a great long-term move, while trailing the position on short term swing pivots.

Alternatively, buying $67 strike call options at $400 a pop and aiming to take off half at a 1:1 to pay for the trade could be a solid move. Be careful with these and work your orders, the options aren't the most liquid things in the world.

Either way, we like the setup here and have bought some shares to track how it progresses.

Cheers!

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