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Tuesday 1 May 2018

Mergers are evident for survival to become big and scaling up, but market has different emotions

The merger announcement triggered the highest-volume selling day since April 2013, dropping the stock into a six-month trendline of rising lows. A turnaround right here could save the day for discouraged bulls, carving a higher low in a possible inverse head and shoulders basing pattern. However, heavy selling pressure signals a major change of heart, raising the odds for a breakdown that tests the 2017 low.

The industry grew just 2.7% in 2017, while many research firms expect zero growth in 2018.

Read more: T-Mobile and Sprint Stocks Near Breakdowns After Merger News | Investopedia 

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