America Movil: Time to Take Some Profits?

Filed under: Stocks to Sell, Stock Picks

The stock chart of Latin American wireless provider America Movil SAB de CV (AMX), first discussed here on June 24, 2009 at a price of $36.47, appears to have formed a double-top near $60 -- a bearish pattern -- hence those in at/near $36 may wish to consider taking some profits.



However, other investors who can tolerate the risk can maintain their full position in AMX, as longer-term, two to three years out, as new business titan America Movil has a bright future.



In 2011, AMX will likely post 20-25% revenue growth in 2011, following a fantastic 31% surge in 2010. Improving performance in two, key markets -- Brazil and Mexico -- will continue to support revenue growth in 2011. Subscriber growth should remain in the strong 6-8% range, in 2011, with margins dipping slightly, on intensifying competition.

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America Movil: Time to Take Some Profits? originally appeared on BloggingStocks on Fri, 18 Mar 2011 17:30:00 EST. Please see our terms for use of feeds.

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