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Portugal Telecom Makes a Move: Up 1.4%

Published on Fri, 02/22/2013 - 11:44
By Peter Chu

One of today's stocks on the move is Portugal Telecom (NYSE:PT), up 1.4% to $5.22. The S&P is trading higher by 0.4% to 1,508 and the Dow is trading 0.4% higher to 13,940.

In the past 52 weeks, shares of Portugal Telecom have traded between a low of $3.73 and a high of $5.91 and are now at $5.22, which is 40% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

Portugal Telecom, SGPS, S.A. offers telecommunications services in Portugal. The Company offers domestic, long distance, and international telephone, mobile telephone, paging, Internet access, and data communications services. Portugal Telecom also distributes television programming over the Internet. The Company offers some of its services in Brazil, Africa, and Asia.

Portugal Telecom has overhead space with shares priced $5.22, or 4.9% below the average consensus analyst price target of $5.49. Portugal Telecom shares should encounter resistance at the 50-day moving average (MA) of $5.31 and support at its 200-day MA of $4.83.

By Peter Chu
pchu@fnno.com

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