Communication Sector OTC Outperformers

Communication Sector OTC Outperformers

By: Tomas Ronolski - News

Wednesday, October 21, 2020

There has been quite the back and forth in the market today, as the five of the eleven major sectors in the S&P 500 are in negative territory heading into the final hour of trade. The Communication sector, however, is standing out in a major way, currently trading up +2.41% in afternoon trade!

OTC Highlights:

There are two companies within the sector trading OTC that I’d like to touch on from a technical standpoint.

AmpliTech Group, Inc. (OTCQB:AMPG) is up over 14% on slightly above average volume. Since no headlines were announced, taking a look at the technicals, it looks like this move is simply a strong continuation of this week’s rally. This move comes just a day after the stock crossed over its 50-day SMA on stronger volume.

On the other side of the performance spectrum lies BT Group Plc (OTC-PNK:BTGOF). While only down .62% on the day, this United Kingdom-based company was on my radar due to the resistance the stock faced last week. On 10/13/20, the stock’s seven-day rally was halted after the price came into contact with its 100-day SMA. The stock has since dropped by 8.5% and is trying to find some support from late September lows.  

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