Telkom has had a decent correction from its recent highs close to R100.00. Price has been consolidating this down move in the form of a bear flag, which is usually a continuation pattern in the direction of the previous trend. Should the daily break below this flag pattern @ R88.00 we could see price fall further to R80.00. Also interesting to note is that the...
Inverted hammer on the daily off ~8775 support 100day EMA above 200day EMA Bullish Trend CCI creeping toward -100, indicating slow but steady buying pressure
Looking at the TELKOM, we may derive the following from the weekly chart: 1. Price is at a notable resistance level where the first rejection has occurred. 2. Price may form a reversal pattern at the high going forward - will monitor this and short accordingly. 3. I am favouring a move to downside in the near future. 4. I am currently short at R100 and will...
It is shocking to see a stock soaring in an economy plagued with state capture scandals, corruption, uncertainty and all things junk. Notwithstanding the fact that i love South Africa, it is sadly true that most stocks on the JSE stock exchange are in bear market territory. Hence the shock i had when i opened this chart. I expect prices to move up as they...
Telkom has once again bumped up into its trend line resistance which has formed highs in the stock on two previous occasions. The stock has been a strong outperformer in its sector and one wonders whether it has not possibly run too hard in the context of a weak economic backdrop locally. What is interesting to note is that the top in 2015 formed in early April....
last batwing formation completed , anytime from now stock might go south.
#Telkom might be running into some tough resistances after a long uptrend earlier this year. - Retest of long term trend-line - Bear flag forming - Last but not least, .618 fib retracement level reached All 3 these reasons are sitting at the same point. Maybe a last effort or bull trap waiting, but I expect a drop
according to our Unum Trading Desk analyst, Lester Davids, "TKG is making a triple break: the 50dma, 200dma and nearly through the downward trend line. "