There does appear to be a good floor $2.85 to $2.90, a lot of volume to get through to break it.
On the other hand, whenever there is a significant downward move, bargain hunters' cause a bounce then there is a partial retraction to the stabilized price. If its only the 'bargain hunters' holding it above this floor, then its a matter of time until they are worn down.
AGM is only thing that can move it up, if that doesnt bring anything positive we may see a further capitulation.
Long term Telstra still has good cashflow, and by far best mobile coverage by geography, even crap management will have a hard time wrecking that, so new management with a vision can change the outlook pretty quickly imo.
TLS Price at posting:
$2.90 Sentiment: Hold Disclosure: Not Held
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