Telstra has been showing good signs of recovery and testing some pretty consistent resistance and hopefully soon to become support areas. Has some good additional volume coming through and it will be interesting to see what the eventual roll out of the 5G Network will do to Telstras growth revenue opportunities. Worth a watch.
Closer view
About Telstra
Telstra Corporation Limited (Telstra) is a telecommunications and technology company. Its principal activity is to provide telecommunications and information services for domestic and international customers. The Company operates through four segments. The Telstra Retail segment provides telecommunication products, services and solutions across mobiles, fixed and mobile broadband, telephony and Pay television/Internet Protocol television and digital content. The Global Enterprise and Services segment provides sales and contract management for business and government customers. The Telstra Operations segment offers overall planning, design, engineering and architecture and construction of Telstra networks, technology and information technology solution. The Telstra Wholesale segment provides a range of telecommunication products and services delivered over Telstra networks and associated support systems to other carriers, carriage service providers and Internet service providers.
Comment
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With all the new announcements coming through with more downsizing of the workforce including contractors, as well as a possible spin-off of Foxtel, and 5G on its way, Telstra is getting more and more interesting. Big cost outs as well as a big revenue bump from 5G about to kick through.
Nice solid trade there - Interesting watching this break out. I unfort got on a bit late. What are you thinking now? level $3.77 is now support?
zAngus
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@rutt, there was a low at $3.745 today so I would be looking somewhere around 3.73 if you wanted a tight stop. I will probably top up and buy more today with the pull back. It looks like it is recovering on the 15 min chart. I'll put a trailing stop around 10%.
zAngus
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I bought more at $3.80. See if it holds up.
rutt
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@Angusmck, Thanks for your thoughts. I'm pretty close to topping up again as well. Got some good momentum.