- Telkom has pulled back to an area of interest. Bulls could step in at the R32-R33 zone and target swing highs or the 200dma - Below R30 would negate the bullish view.
Telkom has pulled back into a buy zone and could be traded in a small range - 32.50 - 37.50 for the short term. Should it break out from this range, one could hold till it hits yellow overhead resistance. My stop would be a close below 31.50.
Head and Shoulders inverse forming on this stock, Stochastics moving into oversold territory, Breakout will trigger long position. First target 55,24 , 2nd target 70,75 . Stop at 46,47. Might be receiving some positive news regarding the MTN buy out to trigger this move.
- MTN is in the process of acquiring the remaining share of Telkom - Evaluations have been cited of around R60+ - The inverted head and shoulders measured move would be perfectly validated if that is the case -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
This break of incline support can be shorted for a short term move to 35
A "Volatility Squeeze" occurs when the volatility of a share falls below its recent levels. A fall in volatility usually means that the share is in a period of consolidation and trending in a narrow range. Such a scenario increases the likelihood of a break either to the upside or the downside. Higher highs and higher lows, together with a test of the 200-day...
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
A bearish trend is applicable below 4700. Breaking above this level will negate the bearish stance Remains below its 200-day simple moving average. Downside price momentum applicable. Trend strength indicates that a trend might be developing.
Telkom bounced off its primary trendline which offered an early entry Price has just closed above the 50ma /200ma yesterday.. Pullbacks to R44-R45 may offer suitable entries for a move towards the up channel resistance. Below the recent swing low could open a possible bear flag break scenario... -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion...
200dma lost, as well as a 2-year old trendline dating back from March 2020. They say "nothing good happens under the 200dma". I won't be surprised to see 30 from here
Telkom smacked to the bottom of the channel on bad results, interesting that the channel still held. Would be interested to see if this can hold as support, or break for a further move down.
Downside price momentum supports the bearish trend direction. Below 5100 supports a bearish trend direction. Might we see the price action walking the lower Bollinger band? Concern remains the absence of a strong trend according to the ADX.
Looking at $TKG on the weekly chart price is currently moving within the upper bound of the channel. Zooming into the daily chart price is forming an ascending triangle. A long pos can be initiated when price breaks out of the setup and closes >5600. In the near term price needs to close above the SR level of 5700 and look to test 6000 for validation of sustained...
I favour taking long setups to shorts but the Telkom chart is looking pretty bearish and could possibly pull back to R43.20 and then R36.50 if no support is found. A close above R49.50 will negate the view. -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Telkom delivered a perfect playout, it still amazes me when these prices perfectly fit into these channels and lines. Now to check for breakthrough or resistance, with earnings coming next week.
The stock had a strong breakout on Thursday. Making a new high and high close YTD. Providing a great buy opportunity with a short term target at R56 and a stop loss at R46.40
Ascending triangle technical pattern developing on weekly; if confirmed, I'm calling it 70; medium-long term.