Hi fasttradeTls is actually moving up at a slightly faster pace...

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klokanmaros

18 Posts.

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11/12/19

23:53

Post #: 41921944
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Originally posted by fasttrade: ↑

Although we sometimes focus on the gap left down between $2.98-$3.00 from late January of this year and the possibility of TLS going down there, I think we should also focus on the big hole between $3.99 and $4.24 created in August 2017 when TLS announced a huge cut to its long standing dividend of 28-31c.

The $3.99-$4.24 gap is a lot bigger and more importantly a lot closer that the $2.98-$3.00 gap.

There is no way that this big gap will be left unfilled for much longer (2c of this gap was filled during the recent rise to $4.01).

Whereas the $2.98-$3.00 gap may be left unfilled for 1-7 years.

Case in point, the 1c gap between $2.79-$2.80 created on 10 August 2011 during a market gyration didn't get filled until 22 May 2018.

Friday's action was not bad, stable. And as Bert is saying, Monday should be good with the green candle we need.

You have to remember, one of the reasons (apart from positive and well received investor day) for the recent 7% rise from $3.63 to $3.89 was the buy recommendations from brokers Credit Suisse and Macquarie who turned bullish on the stock.

The recent suggestion by MissG that Telstra is going to have a 2 in front of it soon enough is possible of course but less likely. Note that MissG's sentiment is "sell". The best course of action for MissG to make lots of money on that prediction would be to get a good size margin loan and take a nice big short position.

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Hi fasttrade

Tls is actually moving up at a slightly faster pace now then the 2010 - 2015 bull run. You can measure the speed angle of a run by connecting the low at the start with the top at the end and then plot this angle onto next leg and watch if it is slower, faster or about the same. Currently we are moving up at a slightly faster rate then from 2010 low looking at the monthly chart, however if we compare the recent wave 3 on daily chart we are moving slightly slower. Just for illustration look how the angle of the first bear market from feb 1999 to low in march 2003 projected from feb 2015 top was a good guide for that bear run. So far we are following previous action and IMHO we should be steady until the second quarter next year where I see potentially resistance in the $4.43 to $4.67 area.

TLS Price at posting: $3.77 Sentiment: Buy Disclosure: Held
18 Upvote

7 Great analysis

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