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Chonkalonka

TKG - TELKOM - The squeeze within the squeeze (>3 : 1)

Long
TELKOM SA SOC LTD (JSE:TKG)  
Chonkalonka Updated   
JSE:TKG   TELKOM SA SOC LTD
Triangle Support and Resistance Moving Averages
1
0
triangle supportandresistance movingaverage
Telkom looks to be setting up a descending triangle with a price target that if met would trigger a symmetrical triangle currently 7 months in the making.
Comment:
The R30 support level proving to be fairly strong with a decent bounce the last two days.
Comment:
Trade entered last week with a first price target of R38.40, full pattern target of R56.00. Stop loss below R28.50.
Trade active:
First target of 38.40 met back on the 8th of Feb. TKG looking good for the next leg up to the second target of R56.00.
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