Rogers Communication RCI.B - Weakness Ahead
I have been following Rogers Communication for a while watching price unfold as the company has been in the news over the last few months.
Firstly, Rogers would like to purchase Shaw communications which will constrict wireless competition landscape even further within Canada and secondly, they had a serious country wide outage a few weeks back which affected millions of their consumers as well as businesses such as Interac and emergency services. The outage revealed how vulnerable their infrastructure is to being affected as they appear to have less than reliable redundancy systems in place. Management noted they will be investing heavily into their infrastructure so this downtime issue will not happen again. Millions will be spend on their networks which will likely affect stock price.
Looking at the long term monthly timeframe, I see continued weakness in RCI.B after it breached an old Feb-2019 all time high of $73.82 but was strongly rejected with price currently sitting in the middle of the dealing range between $73.82 and $46.81.
Under current price, we have a few levels that I believe price will reach for.
1st target = 56.00
2nd target = 54.70
3rd target = 50.70
4th target = 46.80
Ultimate target for the stock in my opinion is $40.0. Feel free to comment on my idea. Feedback is always appreciated.
Firstly, Rogers would like to purchase Shaw communications which will constrict wireless competition landscape even further within Canada and secondly, they had a serious country wide outage a few weeks back which affected millions of their consumers as well as businesses such as Interac and emergency services. The outage revealed how vulnerable their infrastructure is to being affected as they appear to have less than reliable redundancy systems in place. Management noted they will be investing heavily into their infrastructure so this downtime issue will not happen again. Millions will be spend on their networks which will likely affect stock price.
Looking at the long term monthly timeframe, I see continued weakness in RCI.B after it breached an old Feb-2019 all time high of $73.82 but was strongly rejected with price currently sitting in the middle of the dealing range between $73.82 and $46.81.
Under current price, we have a few levels that I believe price will reach for.
1st target = 56.00
2nd target = 54.70
3rd target = 50.70
4th target = 46.80
Ultimate target for the stock in my opinion is $40.0. Feel free to comment on my idea. Feedback is always appreciated.
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