América Móvil, S.A.B. de C.V. provides telecommunications services in the United States, Latin America, and the Caribbean. It offers mobile and fixed voice services, including airtime, local, long-distance services, public telephony services, and network interconnection services. The company also provides value added services comprising short message services, multimedia messaging services, and mobile entertainment services; and data services, such as data transmission, e-mail services, Web browsing, instant messaging, content streaming, and interactive applications, as well as corporate network services. In addition, it offers handsets, smartphones, broadband cards, and tablets; accessories consisting of chargers, headsets, belt clips, and batteries; push-to-talk services; and other wireless services that include two wave, PC and wireless security, and machine-to-machine services, as well as Oficina Móvil Telcel, a services suite to enhance applications, video calls, and mobile banking.
Please take a look at the 1-year chart of AMX (América Móvil, S.A.B. de C.V.) below with my added notations:
Movil's stock had been trading in mostly a sideways range from March through October. Several times over that period the stock also formed a key resistance level at around $22 (blue). Back in November the stock finally broke up out of its base and above that important $22 level. So, assuming AMX holds $22, the stock should be moving overall higher from here.
The Tale of the Tape: AMX had a key level of resistance at $22 that should now act as support on any pullbacks. A long trade could be entered on a pullback to $22 with a stop placed below that level. A break back below $22 could negate the forecast for a move higher.
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