Much of last week was hinting at nervousness in the markets, led by the DOW and S&P. But Thursday and Friday both published bullish closes which largely eradicate that bearish tone. What does this have to do with Telstra? Well, both nothing and everything. Nervous holders can take heart that US Equity markets seem back on bullish track so your holding in TLS should be more confident now. Bullish holders should be more confident to add to positions. We need to see a certain close above the 3.60 area, something that broke down last week. But, barring bearish news in world economic circles, onward and upward.
I get much of my confidence from Chris Ciovacco and his weekly videos based on a MULTITUDE of charts. He is not just a chartist. Here is his latest video: If the 30 minutes is wasting your valuable time, put it's playback speed at 1.5 or 1.75 via settings.
TLS Price at posting:
$3.59 Sentiment: Buy Disclosure: Held
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