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| Subject: Telstra | |
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Author: TLS comments by ABN |
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Date Posted: 23:08:14 01/19/03 Sun Name: Sabretoothed Location: Melbourne, Vic Australia Date: Sunday, January 19, 2003 at 9:51:00 PM Subject: TLS comments by ABN Comments: "Now the technical view. TLS has without doubt broken out of a two year downtrend (according to people more proficient in charting than I am). Levels? After we suggested buying it at around $4.50ish a few days ago, we think $4.80 might be a short-term top. The whole market knows it’ll be a weak result. Thus, buy it?" I'm confused by this statement especially the chartist's view. Looking at the 2 year graph, it has been going down steady, but its still a bit too early if this is a change in trend. It did reach the 200 day moving average but it failed to break it and hold over it. If TLS got over short term resistance in the 4.70 area and traded above you could say that it was coming back, but it could still be a fake really, and given they contradict themselves by saying that the company's performance is going down I would probably say "Sell it"? rather then "Buy it?" What do others think...? [ Next Thread | Previous Thread | Next Message | Previous Message ] |