oyvindlarsen

Will TEL break the downward trend?

Long
OSL:TEL   TELENOR ASA
A bit longer perspective. See clear downward trend with the current weekly view. Currently trading below both weekly and daily 50MA (W171.53, D156.55) and 200MA (W159.70, D170.85).

Broke previous support line on the 9th of March, bouncing back into the weekly trend (white lines). Will be looking for first checkpoint at break of daily resistance line at blue point. Will be interesting to see whether it can approach the daily resistance line from last top at the intersect with weekly resistance line in the longer time perspective. RSI chart good and high volume the last two-three weeks.

Currently no entry, but will be following this one. The long term support line from 2017 is set at 126.0. Will hopefully bounce back into better times as COVID-19 period is over.

Gladly looking for feedback as I am still learning.