Rogers Communications stock holds near $35.95 resistance as buyers dominate the intraday trend

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Rogers Communications up 0.78% to $34.93

Highlights

RCI/USD shows strong short- and medium-term bullish momentum, with prices above immediate moving averages but below the long-term trend level.
Technical indicators, including MACD, ADX, and CCI, signal bullish sentiment though Stoch RSI remains neutral, reflecting strong trend strength for buyers.
The expected price range is $33.91 to $35.95; a breakout above $35.95 signals further upside, while a drop below $33.91 suggests possible reversal.

Buy momentum prevails as price exceeds key short-term averages

On the technical side, RCI is trading above the MA-20 ($34.62) and MA-50 ($33.76) on the hourly chart, while staying below the MA-200 ($36.95) on the daily timeframe. The Ichimoku Kijun level at $34.03 now serves as immediate support. MACD shows strong buy momentum, and ADX also signals a buy, indicating the underlying trend strength currently favors buyers. RSI at 65.77 points to ongoing buying pressure but stops short of overbought, with CCI confirming a buy signal. The Stochastic RSI is neutral, and the Awesome Oscillator provides no additional confirmation. Bull/Bear Power continues to highlight buyer dominance in recent intraday action.

Sideways consolidation expected amid breakout and reversal risks

Looking ahead to the next few trading days, RCI is expected to consolidate within the $33.91 to $35.95 range. The baseline scenario calls for sideways action within this volatility band relative to current levels. A move above $35.95 would signal a potential breakout and open the way for further upside, while a drop below $33.91 may indicate a reversal and trigger a test of lower support areas.

Anton Kharitonov, expert at Traders Union, sees Rogers Communications holding above key short- and medium-term moving averages, but still constrained by longer-term resistance. Technical momentum indicators are mostly constructive, though the price remains boxed in a clear consolidation range. He remains cautious given the absence of fresh news and the sideways scenario. "Sideways action between $33.91 and $35.95 is my base case, and I see no reason to take strong positions until one of these levels breaks decisively."

Earlier, analysts noted that Rogers Communications was exhibiting bullish technical momentum while tightening its operational focus through cost management initiatives. With the latest data reinforcing sustained buying activity and trend strength, traders should closely monitor for a confirmed breakout above resistance as the next potential catalyst for directional movement.

Source of Data: Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.