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CenturyTel Bearish Moving Average Crossover Alert (CTL)

Published on Wed, 04/17/2013 - 11:18
By Mallory Stone

CenturyTel (NYSE:CTL) crossed under its 10-day moving average of $36.64 on a volume of 1.5 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, CenturyTel has traded in a range of $32.05 to $43.43 and is now at $36.52, 14% above that low. The 200-day and 50-day moving averages have moved 0.05% lower and 0.6% lower over the past week, respectively.

CenturyTel (NYSE:CTL) is currently priced 1.5% above its average consensus analyst price target of $35.96. The stock should find resistance at its 200-day moving average (MA) of $39.14, as well as support at its 50-day MA of $36.00.

CenturyTel, Inc. is an integrated communications company. The Company provides a wide range of communications services, including local and long distance voice, Internet access and broadband services. CenturyTel operates throughout the United States.

By Mallory Stone
mstone@fnno.com