The Broadband industry, synonymous with data transmission and the digital backbone of modern societies, has recently witnessed a remarkable upswing in stock performances. This space, which offers services through both wired and wireless mediums, has become ever more critical as our dependence on the internet and telecommunication grows. Recent technical analysis paints a promising picture for investors and market watchers.
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Overview of the Broadband Industry
Broadband is integral for the effective transmission of data, often facilitated by wires or fiber-optic cables. However, the evolution of technology has also introduced wireless broadband. Major players like Cogent Communications Holdings, Altice USA Inc., and Comcast Corp drive this space, ensuring that the masses have uninterrupted access to internet and telephone services.
Comcast Corp (NASDAQ:CMCSA), Verizon Communications (NYSE:VZ), and AT&T (NYSE:T) are some of the stalwarts in the broadband industry. Their performance largely influences the market trends in this segment.
Market Capitalization Insights
The aggregate market capitalization for companies within this sector averages at about $56.6B. The spectrum of valuation is wide, with CMCSA leading at $192.1B and CNSL at the lower end valued at $450.1M.
Performance Metrics: A Deeper Dive
In terms of price movement, the average weekly growth for these stocks was recorded at 7.94%. The monthly performance was even more impressive, with a spike of 20.18%. However, on a quarterly scale, the growth was relatively muted at 0.15%.
Noteworthy price movements include:
Trading volumes offer vital clues about investor interest and potential future movements. The average weekly volume growth across the broadband stocks was a modest 2.58%. But the monthly and quarterly figures offer contrasting images. Monthly volume growth stood at 5.12%, while the quarterly growth surged to an astonishing 50.31%.
Highlighting some extraordinary volume spikes:
Fundamental Analysis Ratings
While technicals provide a snapshot of past and current movements, fundamentals offer insights into the intrinsic value and potential of stocks. On a scale where 1 signifies the best and 100 the worst, the fundamental analysis ratings for the sector's heavyweights like Comcast Corp, Verizon Communications, AT&T, and Lumen Technologies will be of keen interest to long-term investors.
The Broadband industry's recent stock performance, particularly in the last month, is a testament to its ever-growing relevance in a digitally connected world. The 19.6% monthly gain is not just a number but a reflection of the sector's resilience, adaptability, and potential. Investors, both current and prospective, would do well to keep a close eye on this space.
CCOI - On August 10, 2023, CCOI's Momentum Indicator breached the 0 level, signaling potential upward momentum. Investors might see this as an opportunity to buy the stock or opt for call options. Historical analysis by Tickeron's A.I.dvisor, examining 102 comparable positive shifts, reveals that the stock advanced in 76 cases. This puts the likelihood of an upward move at an encouraging 75%.
VZ - On July 17, 2023, VZ's 10-day Moving Average dipped below its 50-day counterpart, marking a potential bearish turn. Such a crossover often serves as a sell cue for investors. Historical data reveals that in 13 out of 22 similar scenarios, VZ's stock ascended in the subsequent month. However, the 59% probability tilts towards a sustained downward movement.
T - On August 02, 2023, the Momentum Indicator for T slipped beneath the 0 threshold, hinting at a possible bearish trajectory for the stock. Investors might contemplate offloading the stock or considering put options. Analyzing 77 analogous events from Tickeron's A.I.dvisor, the stock deepened its decline in 45 cases. This sets the likelihood of a continued downtrend at 58%.
CCOI saw its Momentum Indicator move below the 0 level on September 08, 2023. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 101 similar instances where the indicator turned negative. In of the 101 cases, the stock moved further down in the following days. The odds of a decline are at .
The 10-day RSI Indicator for CCOI moved out of overbought territory on September 05, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 32 similar instances where the indicator moved out of overbought territory. In of the 32 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Moving Average Convergence Divergence Histogram (MACD) for CCOI turned negative on September 06, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 47 similar instances when the indicator turned negative. In of the 47 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CCOI declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 9 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
The 10-day moving average for CCOI crossed bullishly above the 50-day moving average on August 16, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CCOI advanced for three days, in of 288 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 263 cases where CCOI Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 79, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. CCOI’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.984) is normal, around the industry mean (6.062). P/E Ratio (2.792) is within average values for comparable stocks, (136.146). Projected Growth (PEG Ratio) (1.645) is also within normal values, averaging (9.904). Dividend Yield (0.056) settles around the average of (0.117) among similar stocks. P/S Ratio (4.502) is also within normal values, averaging (68.171).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of broadband internet services
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A.I.dvisor indicates that over the last year, CCOI has been loosely correlated with TU. These tickers have moved in lockstep 44% of the time. This A.I.-generated data suggests there is some statistical probability that if CCOI jumps, then TU could also see price increases.