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Millicom International Cellular (MICC) provides affordable, widely accessible and readily available prepaid cellular telephony services to 8.9 million customers in 16 emerging markets in Latin America, Africa and Asia, where the basic telephone service is often inadequate and where economic development and rising personal income levels are creating increasing demand for communication services.

The timeliness of purchasing MICC shares couldn't be better:

1. MICC has a high Growth Stock Analytics Rank of 77.0 in our database of top ranked growth stocks.

2. Triple digit quarterly growth in earnings per share over the last two quarters.

3. A whopping twelve-month ROE of 50%.

4. Less than 40% of shares are owned by institutions, while institutional support is rising.

5. A relative strength rank that has remained high for more than a year.

6. A price breakout above prior resistance of $100 on strong volume three weeks ago.

7. MICC has held up extremely well, given the recent market volatility.

No long position would be complete without an understanding of where a trade stops to work out. With MICC, a downside break of $96 would indicate a failure to maintain key support levels.

Disclosure: Author has a long position in MICC

Source: Millicom International: Timing is Everything