Shares of Telefonica Has Fallen Below Previous 52-Week Low
Shares of Telefonica (NYSE:TEF) traded at a new 52-week low today of $8.46. Approximately 1.1 million shares have changed hands today, as compared to an average 30-day volume of 1.4 million shares.
Telefonica has overhead space with shares priced $8.49, or 28.2% below the average consensus analyst price target of $11.82. Telefonica shares should first meet resistance at the 50-day moving average (MA) of $10.82 and find additional resistance at the 200-day MA of $12.01.
Over the past year, Telefonicahas traded in a range of $8.46 to $15.54 and are now at $8.49. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.2%.
Telefonica S.A. provides telecommunications services mainly to countries in Europe and Latin America. The Company offers fixed-line and mobile telephone, Internet, and data transmission services to residential and corporate customers. Telefonica also holds stakes in television stations, radio stations and production companies, and publishes directories.
SmarTrend recommended that its subscribers protect gains by selling shares of Telefonica on June 10th, 2016 by issuing a Downtrend alert when the shares were trading at $9.76. Since that call, shares of Telefonica have fallen 11.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows Telefonica