The stock of Cincinnati Bell has had heavy buying over the last month. Institutional investors have increased their long positions by 5.15% over the last 3 months.
Positive earnings revisions are what is driving the stock higher. In the past 30 days, one estimate has gone higher for Cincinnati Bell while none have gone lower in the same time period. The estimate was increased from 3 cents a share 30 days ago, to 9 cents today, a move of 200%. The forecast EPS for CB has increased to $0.91 from $0.82 in the last week.
Cincinnati Bell Stock Chart
The stock is coming off of a Triple Bottom. The blue dots represent all the bullish Pocket Pivot signals over the last few weeks and notice how the Effective Volume shows large players are buying the stock like crazy. The Twiggs Money Flow is rising and looks bullish.
CBB shows a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 19.54. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 19.12, a stop order could be placed below this zone.
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