Telkom (TKG) has undergone significant transformations since its days as the government-controlled provider of fixed-line telephone connectivity in South Africa. The advent of cell phones forced Telkom to subsidize the development of its competitors, resulting in substantial financial burdens. CEO Sipho Maseko noted that Telkom has effectively subsidized other...
Telkom, historically the government-controlled provider of fixed-line telephone services in South Africa, has undergone significant transformations in response to the telecommunications industry's evolution. The advent of cell phones prompted Telkom to subsidize the development of competitors such as Vodacom, MTN, and Cell-C through termination rates for calls, a...
A price action below 2570 supports a bearish trend direction.
Increase short exposure for a break below 2560.
The target price is set at 2280 (23.6% Fibonacci retracement level).
The stop-loss price is set at 2910 (61.8% retracement level).
The declining channel pattern supports lower highs and lowe lows).
Also remains below its 200-day simple moving...
Telkom beat expectations on results and now rallying and breaking neckline of this inverted head and shoulders formation. Should see a target of R28 in the near term
Historically, Telkom (TKG) was the government-controlled provider of fixed line telephone connectivity in South Africa. With the advent of cell phones, Telkom was forced to subsidise the development of its own competition in the form of Vodacom, MTN and more recently Cell-C. This subsidy takes the form of termination rates for calls which are now being phased out....
Historically, Telkom (TKG) was the government-controlled provider of fixed line telephone connectivity in South Africa. With the advent of cell phones, Telkom was forced to subsidise the development of its own competition in the form of Vodacom, MTN and more recently Cell-C. This subsidy takes the form of termination rates for calls which are now being phased out....
This beaten down Telco has had a strong bounce yesterday closing on the high and printing two bullish candles.
- Price is now above the 20ema
- Macd positive crossover
- Lower low
Will need to hold pullbacks to R22.85 to continue the momentum
Telekom
1. Price Formation: The price has broken from an Inverted C&H price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a positive sign indicating short-term bearish momentum.
3. 200-day Moving Average is above the Price.
4. Thus, Mas 7<21<200
5. Relative Strength Index (RSI): The RSI is <than 50,...
Price has made a 52 week low and is at previous swing lows.
Failure to hold onto these levels could see the stock target the R16-R18 zone.
The 52-week low in trading refers to the lowest closing price of a stock or any other security during the last 365 days. It’s a technical indicator used by traders and investors to analyze a stock’s current value and...
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...
Telkom has been all about wild swings since listing in 2003.
The stock had a decent recovery from the March 2020 lows of 1329 but now the stock seems set to erase all the gains.
Telkom released a trading statement for FY'23 yesterday and the market clearly does not like it.
The strategy is simple, short the rallies towards 1329-1134.
Inv Cup & Handle formed on Telkom.
We then had a break down and the market has been coming down ever since.
200>21 >7 - Bearish
RSI<50
The first target was at R28.63. But the market gapped and opened at R26.00.
This means the price got out at a better price for the short.
The bias is still bearish and we can expect further downside.
I'll let you know in due course.
A price action above 3400 supports a bullish trend direction.
Trading just below its 200-month simple moving average.
Confirmation of a bullish setup for a break above 3600.
The target price is set at 3700.
Stop-loss set at 3300. Negate the bullish bias for a break below this level.
"Counter-testing" in this context refers to a trading strategy where a trader...
TKG: BEST PROBABILITY TECHNICAL BULL SCENARIO
(YELLOW CANDLES): 1-2 more days of downside followed by a ‘piercing candle’.
TKG: BEST PROBABILITY TECHNICAL BEAR SCENARIO
(YELLOW CANDLES): Trades to the upside and finds resistance at the prior swing highs.
Inv Cup & Handle formed and broke below the brim level.
200>21 >7 - Bearish
RSI<50
Target R28.63
Bearish bias
We had a BOS up twice before, we had a Change of Character. This means, we go our trend reversal on the bigger time frame, showing downside to come.
This works with the INv Cup and Handle
and because the Daily Bias on the JSE is bearish all confirms...
H&S formed on Telkom SA.
Looking foe the price to break above the neckline and confirm support above 37.
We could see resistance around the 38 area (200MA.)
Note:
- R35 (20ema) is a key area of resistance
- A 15% cut to the workforce is on the cards
- It is expecting offers for its tower and masts business also by March
- It will be interesting to see how much...
