Short Opportunitylast batwing formation completed , anytime from now stock might go south.Shortby Kamo_Zelo2
Telkom - Failing at Resistance With A Bearish Engulfing CandleFailing at Resistance With A Bearish Engulfing Candle: The second one in just over a week. Telecom shares under pressure. Upward trend line yet to be broken however do we always wait for a break if fundamental evidence emerges and the technical start to show evidence of weakness? No. This one appears to be under some selling pressure and may just tick a lower over the short term. Shortby LD_Perspectives6
3 good reasons to short $JSETKG#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 dropShortby TheDavo904
JSE:TKG Telkom Great Wykoff StudyIt is not a good time to buy Telkom but it makes a good study of the Wyckoff principles. The first thing to notice is the pattern: Markdown - Accumulation - Markup - Distribution - Markdown - Accumulation - Markup and now potentially forming a range again. The next notice the two ways that markups and markdowns en: 1) The first Markup and Markdown ended by an inability to move to the oversold or overbought trend line, 2) The second two had over throws of the lines. Both these setup resulted in a trading range forming. The next thing is to notice how the trading range forms. Only the main labels are added to have less clutter. Volume increases on the Preliminary Supply (PSY) or Support (PS) and it is possible to even be the highest volume for the range as is the case in the Distribution Range. Next a Selling (SC) or Buying (BC) Climax is formed on volume stopping the trend (Phase A). After a Aromatic Rally (AR) or Automatic Reaction (AR) (Still Phase A) a period of low volume in the TR forms where the Composite Operator (CO) is carefully either Distribution or Accumulating stock (Phase B). Once this is done the TR ends in a Spring; Upthrust after Distribution (UTAD) or Last Point of Supply (LPSY) / Support (LPS) Before breaking the TR (Phase C). Once it has been marked out of the TR a backup to the trading range first takes place (Phase D) before the Markup or Markdown can begin (Phase E). Also notice how the Volume RSI can assist in providing a clue if an accumulation or distribution is forming. by SteynTradeUpdated 4410
$JSETKGJSE:TKG Braking up from big symmetrical triangle looks as good long here FT =5800/5900 area by ALSITRADER5
Flash note: Telkom - Triple Breakaccording to our Unum Trading Desk analyst, Lester Davids, "TKG is making a triple break: the 50dma, 200dma and nearly through the downward trend line. "Longby MarkWeetman2
Telkom - Triple BreakTKG is making a triple break: the 50dma, 200dma and nearly through the downward trend line. Longby LD_Perspectives443