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Actionable news in TMUS: T-MOBILE US Inc,

T-Mobile Volatility Aside, a Positive Technical Picture Is Still Intact

T-Mobile US (TMUS) reported blow-out quarterly numbers after the market close Wednesday and the stock gapped higher Thursday morning, taking out a key level of technical resistance. Shares quickly reversed direction, erasing the 3% gain as some investors who were long going into the earnings report took profits. Nothing has changed regarding the positive fundamentals or the bullish technical picture and the move back below the initial breakout level allows those who missed the move to enter at pre-report levels.

The price action ahead of earnings formed a cup-and-handle pattern on the daily chart above this month's retest of the rising 200-day moving...