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Shares of France Telecom Under Pressure, Down 1.3%

Published on Fri, 02/08/2013 - 11:28
By Peter Chu

France Telecom (NYSE:FTE) is one of today's biggest movers, down 1.3% to $10.60. The S&P is currently trading 0.6% higher to 1,518 and the Dow Jones Industrial Average is trading 0.5% higher to 14,012.

France Telecom (NYSE:FTE) has potential upside of 34.9% based on a current price of $10.60 and analysts' consensus price target of $14.30. The stock should find initial resistance at its 50-day moving average (MA) of $11.16 and further resistance at its 200-day MA of $12.35.

Over the past year, France Telecom has traded in a range of $10.20 to $15.87 and is now at $10.60, 4% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.2%.

France Telecom SA provides telecommunications services to residential, professional, and large business customers. The Company offers public fixed-line telephone, leased lines and data transmission, mobile telecommunications, cable television, Internet and wireless applications, and broadcasting services, and telecommunications equipment sales and rentals.

By Peter Chu