Eye on LVLT

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Level 3 Communications, Inc. (LVLT) is approaching lateral resistance in its two-month rectangle pattern, in which the stock has been consolidating after a 25% gain in November.  If it breaks out above the $50 resistance, we could see a continuation of a trend toward $51-52 short-term. Initial stop loss is at the 20 SMA at $48.40.

Originally published on TraderHR.