Trade Ideas: MBT

The market returned some of its recent gains, but there was a marked improvement in the rate of buying; the Trade Ideas scan increased the timing of the 8 picks to 1 minute, although there still wasn't a lot of strength in individual stocks. Mobile Telesystems OJSC (MBT) broke the 20 appearance barrier to register 25 hits on the day.

Mobile Telesystems OJSC (MBT) trades inside a rising channel. Stops can go on a break of the most recent reaction low which followed a positive test of the 50-day MA. Resistance can be found at the most recent reaction high of $51.13, then the upper channel band. The point-n-figure chart shows an upside target of $68.

Mobile TeleSystems OJSC, together with its subsidiaries, provides wireless telecommunication services in the Russian Federation, Ukraine, Uzbekistan, and Turkmenistan. It offers mobile cellular communications services based on global system for mobile communications technology. The company provides network access services, such as mobile cellular voice, data, and facsimile communication services to its subscribers on various tariff plans. It also offers various services, including voice mail, short message services, general packet radio services, and multimedia message services. In addition, the company provides various telecommunications services, such as design, construction, and installation of local voice and data networks capable of interconnecting with fixed line operators; installation and maintenance of cellular payphones; lease of digital communication channels; and access to open computer databases and data networks, including the Internet to its corporate clients. Further, it provides fixed, local, and long distance telecommunications services and video conferencing services. As of September 1, 2006 31, 2005, the company served approximately 65.72 million subscribers. Mobile TeleSystems was founded in 1993 and is headquartered in Moscow, Russia.

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