Long term resistance from mid last year, to be challenged by support that emerged with a Hammer following results.
Increases in shorters coincides with the resistance line, it began mid last year and in recent months TGR has been the most shorted stock on the ASX, in recent weeks shorts have began unwinding.
Keltner Channel withing Bollinger bands indicates share is being "Squeezed", with investors unsure which direction the stock is heading.
It is typical to expect a strong breakout (up or down) from a squeeze situation.
Vocus and Telstra are both integrated telco stocks on ASX, with Telstra nearly 20x market cap of Vocus, this graph uses Telstra as an index to measure the trend of Vocus relative to that index.
The blue line (RHS scale) shows Vocus SP divided by Telstra SP, the candles are the Vocus SP (LHS scale)
The VOC/TLS trend has been tracking Vocus SP since the results...
Telstra has a market cap about 20x Vocus, but they provide similar fixed line Internet.
The industry has had some dramas in the last years, each company has had their own, but the share price ratio between them is stabilising and narrowing.
I believe Telstra is behaving as an anchor for the industry, and Vocus is being range traded relative to Telstra's...
