Im calling yesterday a dead cat, today it tried to continue but failed.
It is possible to see today and a gravestone doji, todays close is the same of yesterdays, despite the strong open and rally midday, bears won.
I think $2.80 needs to be tested before we see the floor, thats where the patient buyers are lining up, alternatively they will choose to abandon that position.
Telstra EPS has halved since the SP peaked around 6.70, so i think its reasonable for its peak SP to half halved also.
So a SP ceiling around the $3.50 we saw a few months ago isnt surprising to me now.
I dont think i would considering buying for much above $2.50 now, so changing my sentiment to SELL, i expect to change that in a month or so.
TLS Price at posting:
$2.90 Sentiment: Sell Disclosure: Not Held
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