One leading communications stock that has been under pressure over the past two months is DISH Network (NASDAQ:DISH). This stock peaked out in July at around $66.50. Since that peak the share price has fallen down to $52.55. Unfortunately, the stock's pattern tells me that there is further downside in the shares before it makes a significant bottom.
My downside projection tells me that DISH will likely decline into the $46.50 area, a level that should be defended by the institutional money. Keep this stock on your radar as I'll probably buy (long trade) around this area.
