Rogers Communications (RCI/B.TO) at major support

Rogers Communications Inc. released Q1 2019 on April 18, 2019. Traders sold-off the stock in reaction to the release. Rogers is now testing the major support zone near the 200-day moving average. Rogers generated substantial cash flow from operating activities of $998 million this quarter, up 13%, and free cash flow of $405 million this quarter, down 8%. I rate the stock a buy and this is a good entry point.

Rogers Communications weekly chart showing major support zone.
Rogers Communications daily chart showing major support zone.

Here is the MD&A for the Q1 2019 release

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)
Three months ended March 31, 2019 and 2018

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Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
“Technical Analysis is about identifying trends”
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