Is a Breakout for Orange (ORAN) in the Charts?

A resistance level has emerged in the chart of Orange (ORAN).  If this level is broken, a breakout could occur…

Orange (ORAN), formerly known as France Telecom S.A, is a telecommunication services company, which operates mobile and internet services. It provides telecommunication services to multinational companies, under the brand Orange Business Services.

The company generated revenue of €10.58B in the most recent quarter, which was up 0.8% year over year. ORAN was able to return to revenue growth in the third quarter despite a continuing sharp decline in roaming, and a small decline in equipment sales, due to the pandemic. Growth in France and Africa & Middle East were driving revenue.         

Last month, ORAN announced the launch of its 5G network in 15 French municipalities, including Nice, Marseille, Le Mans, Angers and Clermont Ferrand. The company expects more than 160 municipalities will be covered with 5G by the end of the year.

The company has a five-year average EPS growth of 20.8% and is currently undervalued with a P/E of 10.4. The stock is up over 11% for the month, but has shown weak near and long-term momentum. ORAN has a “Buy” rating in our POWR Ratings system.

Take a look at the 1-year chart of ORAN below with my added notations…

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