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CTL - Assessing If The Bulls Can Gain Control In CenturyLink
CenturyLink Inc.
Straight away when we look at the long-term technical chart of CenturyLink (CTL), we can see that a bullish divergence is forming on the RSI indicator. A bullish divergence takes place when the technical indicator essentially trades in the opposite direction to price. Price in essence prints a lower low but the RI prints a higher low. This means the momentum is being lost to the downside, which invariably means that price usually forms a strong bottom soon thereafter. As the chart shows below, we actually had the same conditions back in 2008