Swing Trading: Will AT&T's Blocked Takeover Mark a Trading Top?

By David Penn,

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With the strategies I learned in the first two weeks of Swing Trading College, I was able to earn enough money trading, to pay for the whole program before the third class.

- William K, Phoenix, MD

I would rank the course a 10 on a 1-10 scale. I give the course this rating because of the course's quantitative approach to investing in the stock market. Nothing is left to chance.

I have been trading for 25 years. I would refer this course to friends.

- MC

I'll take the course over and over again. It's a constant mentoring source which works and is cheap at the cost .

- James S.

Find out what the buzz is about. Click here to watch Larry Connor's presentation: The 4 Keys to Swing Trading and Risk Management.

Remember you can still pick up a free copy of Short Term Trading Strategies That Work: A Quantified Guide to Trading Stocks and ETFs . Click here for more information .

Here are 7 Stocks You Need to Know for Thursday.

Today's 7 Stocks You Need to Know will pay special attention to the telecommunications market, a market that was shaken on Wednesday on news that the justice department likely would seek to block the planned acquisition of T-Mobile by AT&T Inc (T | PowerRating ) .

For its part, shares of AT&T fell by more than 3%, reversing to trade below its 200-day moving average after rallying above that level in Tuesday's trading. The stock is in neutral territory, with a small, short term bias toward the oversold.

Also reversing to the downside, but by a much smalller margin, were shares of Verizon Communications (VZ | PowerRating ) . VZ traded back below its 200-day moving average on an intraday basis on Wednesday, but managed to close above that level.

Up more than 5% to close in overbought territory below the 200-day moving average were shares of Sprint Nextel Corp (S | PowerRating ) . Shares of S have closed higher for four days in a row.

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Short term beneficiaries of the news from the Justice department include stocks like American Tower Corp (AMT | PowerRating ) . Shares of AMT have finished higher for four consecutive sessions, closing in overbought territory above the 200-day moving average for the past two trading days.

News that Amazon.Com Inc (AMZN | PowerRating ) would be introducing their own tablet device gave traders and investors alike further reason to bid shares of the stock higher on the final trading day of the month. AMZN gained more than 2% on Wednesday to close higher for a four consecutive session, and is overbought above its 200-day moving average.

Pulling back by more than 3% ahead of trading on Thursday were shares of LinkedIn LNKD (LNKD | PowerRating ) . The stock had closed higher for three days in a row, finishing in overbought territory on Wednesday.

Freeport Mcmoran C&G B (FCX | PowerRating ) continues to climb deeper into overbought territory below the 200-day moving average. The stock has finished higher for seven days in a row, the last in overbought territory.

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David Penn is Editor in Chief of TradingMarkets.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Stocks
Referenced Stocks: AMT , AMZN , S , T , VZ

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