The Canadian telecom sector is trending up. Last year while the European crises raged on, telecom stocks barely flinched. Relative strength continues to be favorable as stocks rise. I’ve posted charts of the big players; BCE, Telus and Rogers for comparison. BCE is currently consolidating after a strong year of growth, while Telus and Rogers are showing outperformance in the sector. Telus is trending the strongest and is supported by its 200 day MA, as is Rogers. Rogers has a fair bit of overhead resistance that will challenge it at $41 or so. Continued earnings performance will be necessary to drive Rogers through this resistance.
I’ll disclose here that I hold personal and professional positions in Rogers Communications.