Tuesday, November 17, 2009

Good Signals From BCE

With many stocks hitting 52 week highs, and after taking a pounding a year ago, BCE appears to be lagging in its recovery.

BCE Inc. (BCE) provides communication services to residential and business customers in Canada. Its services include Bell Home Phone local and long distance services, Bell Mobility and Solo Mobile wireless, high-speed Bell Internet, Bell TV direct-to-home satellite and VDSL television, IP-broadband services, and information and communications technology services.

Positives are:

•Good chart pattern.
•Consistent uptrend and rebound from the November 26 '08 drop.
•A fair average daily volume of over 647,000 shares.
•A nice dividend yield of 5.7%.
•Forward P/E ratio is at 12.

Trading this morning at 25.84, I am betting that the trend continues and that the stock price will get back to the mid 30's level by the first quarter of 2010.