Feb 4 1330 AEDT Nice retest of the HS reversal neckline. Solid support at $5.00. Inside day of Feb 3 will probably not reverse. Now long and looking for ST up move to fill the body gap at $5.20 Pattern should now channel the yellow up trend line (now upper boundary). Expecting 5 wave up move targeting above mentioned Div target price of $5.46 Buy the pull backs and lift your stops. ... just my 2c worth ...
Trade active
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Feb 9 For the Break Out traders among you, it is now underway. Draw your uptrend line from the Jan 31 low - that's your rising stop. Targets are mapped. Remember this is my opinion - not a guarantee ... ... another 2c worth ...
Well it was trading according to plan but an ordinary interim result and poor outlook, had the bears shredding this stock from the opening and at the close, while everyone looked on.
Massive volume (8x) and this will take some time to repair ...
The 5 min chart shows the lack of buyer enthusiasm with sellers meeting all attempts at recovery.
TLS goes ex div March 1, so 8 trading days of damage control and with a 15c dividend that places a ceiling at abt $5.00
I now expect this stock to trade to $4.40 +/- 0.10 in the medium term post ex div.
boobooshnu
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Spot on with your call. Where do you think this is headed? and what are the catalysts?
Oh_If_Only
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@Faizal99,
Thank you.
Targets - listed above. The HS reversal is looking for $5.40+. The gap top is $5.48. For the short term there is a body gap at $5.20
Catalysts: The dividend (maybe 16c). TLS reports Thursday 16 Feb and then allow 10 days (approx) cum div trading. Plus this Telstra commentary extract:-
"In November 2016 we informed our shareholders that we would review our capital allocation strategy over the next 6-12 months. This review would take into consideration the long term business and financial profile of Telstra.
We are considering the best use of nbn payments and the most effective way of maximising long term shareholder value from these cashflows.
In the next four to five years Telstra will receive one-off payments and recurring payments associated with the migration to nbn. Specifically we will be reviewing how we allocate and structure both sets of receipts to determine how we can enhance shareholder value from them. ..."
There are 5.3m short sales vs 20m+ t/o each day (about average). You can also view previous "cum div" trading on this website to gauge momentum for the mums and dads, smsfs and etfs etc. Everyone holds TLS! and they have already completed 2 x substantial buybacks.
Hope this helps and I appreciate you asking. Have a look at WES and NHF, plus I will post some more charts soon and you could request a special interest via here if you would like.
Regards
Murray
boobooshnu
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@Oh_If_Only, Thanks for taking the time out for that reply murray. very interesting read.
Massive volume (8x) and this will take some time to repair ...
The 5 min chart shows the lack of buyer enthusiasm with sellers meeting all attempts at recovery.
TLS goes ex div March 1, so 8 trading days of damage control and with a 15c dividend that places a ceiling at abt $5.00
I now expect this stock to trade to $4.40 +/- 0.10 in the medium term post ex div.