Telstra Group Limited
Обновлено

Could Telsta finally be carving a bottom?

90
-26 week horizontal range
-Declining volume

-Unsure at this stage but watching for reversal or continuation of trend
Сделка активна
It would appear we could have a break away gap however volume at this stage is not supporting this interpretation. None the less I have taken a short at 3.34 for 50 basis point risk. Planning an additional 50 if price does not run away.
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A minor head & shoulders interpretation with a retest of the neckline within the confines of the larger pattern could support the short side bias but that could be somewhat arbitrary
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Additional 50 basis points for 100 basis point risk
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Schabacker goes on to say, "Break-outs which are obviously the result of only a normal ex-dividend correction should, of course, be disregarded, and the subsequent price action watched to determine the true technical trend"

For sake of disclosure
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Stopped out of initial tranche, Risk down to 50 basis points
Сделка закрыта: достигнута стоп-лосс цена

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