Telkom Down channel to R15.00 next

Downward Channel has formed on Telkom.

The price continues to make lower highs and lower lows. We can only go with the trend as long as it continues.
So my bias is bearish as there are other momentum indicators confirming downside to come.
200>21>7
RSI<50
Target R15.00

ABOUT THE COMPANY

Telkom SA SOC Ltd. is a leading telecommunications company in South Africa, offering a range of services to both individual and corporate clients.

It was founded in October 1991 when South African telecommunications was deregulated.

Telkom operates in more than 38 countries across the African continent, making it one of the largest telecommunications corporations on the continent.

Telkom offers a broad range of services, including fixed-line telephone, mobile, broadband and fiber optic internet, digital television, and IT services.

Telkom Mobile, formerly known as 8ta, was launched as Telkom's mobile service brand in 2010.

The company has made significant investments in upgrading its network infrastructure to support advanced technologies like 4G and 5G.

Telkom has played a key role in South Africa's broadband expansion efforts, including the rollout of fiber optic networks to homes and businesses.

In 2017, Telkom introduced Telkom LIT, a digital entertainment platform offering video and music streaming services.

It has partnered with other technology and telecommunications companies on various projects. For example, it announced a roaming agreement with Vodacom in 2018.