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Timonrosso
May 18, 2023 12:05 PM

TARGET surpassed Telkom and more downside to come Short

TELKOM SA SOC LTDJSE

Description

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.
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