It seemed to me that Telstra drifted through the $2.80 support following the overall market, with some strategic help from big money no doubt.
So i plotted this graph with Telstra share price relative to the all Ordinaries (the red line), which should help to show Telstra's real movement as distinct from the overall market movement.
I pushed the time back to the all time low to try and get a useful scale, but they are separate scales, the price line is only for Telstra (blue line), because red is relative to market.
It suggests Telsta hit its floor a month ago, and its been the market pushing it lower since. I think this suggests the floor is stronger around this price level than we might have realized.
TLS Price at posting:
$2.80 Sentiment: Hold Disclosure: Held
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