Telkom Short bankedPlease refer to my previous TKG short trade based on this H&S chart- We have banked our profit! Yaaaay!
TKG trade ideas
TKG - Broke SupportWe may derive the following from the Weekly TKG chart:
1. Price has broken below our major horizontal support.
2. Price should in all probability continue to drop further.
3. Monitor price action and look out for further short opportunities.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
TKG Short ContinuationTKG has closed below resistance / supports levels opening below today will confirm
further downward movement.
i will wait for confirmation to increase position
i will put in tight stop loss
as always i will manage my risk
Telkom WEEKLY Chart SHORTTKG has formed a head and shoulders pattern at the top of an UP trend on the WEEKLY chart. SUPPORT has been broken and now retested as RESISTANCE. Full TARGET for the pattern is R68.40
JSE:TKG Trading Range FormedTelkom has been in a strong uptrend but after a buying climax (BC) on high volume and automatic reaction (AR) we have set the bounds for a trading range (TR). As it develops further we will be able to see if it a re-accumulation or distribution.
Trading Plan For Telkom
The share price of Telkom has breached the neckline of large head and shoulder technical formation. Typically, a break is followed by a re-test of the neckline or breakdown level and/or major moving average such as a the EMA20 and SMA50. At current levels, the price is finding support on it's 200-day moving average and may be a worth buy for a short term rebound. During yesterday's session we saw the RSI hit a very oversold level of 23 while this morning, along with a slightly firmer price, the RSI is attempting a move out of oversold levels with a print of 29 in early trade. Taking a short term view and at a price of 7740c, the share may be worth a buy.
This is what traders could look to do:
Buy TKG at 7740 (or better)
Should we see the price go against us, use a stop-loss of 75.10
Take Profit at or close to 8180c
South African Telecomms pairNew +TKG / - MTN pair at 0.7554 with a target of 0.825 (TP1) and 0.92 (TP2)
TKG shortTelkom is starting to develop a downtrend,currently price is oversold,we anticipate price to retrace to resistance before its next downleg.
TKG shortTKG after prominent H&S telkom has been stuck in TR close below resistance completed
wait for confirmation of downtrend continuation
TKG - time to buy again?TKG remains in the third-best sector based on rotational analysis. “What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” William O’Neil.
Improving technical scoring according to our proprietary scoring methodology, supporting a bullish bias.
A conflux of technical indicators supporting a bullish bias:
Crossing above its 8-day simple moving average
Bullish MACD crossover.
Sideways OBV supports the fact that money remains in the share.
Remains above its 200-day simple moving average.
Three Inside Up Japanese candlestick.
Time to exit: +- 2 September 2019
TKG - Near SupportWe may derive the following from the Weekly TKG chart:
1. Price has fallen as previously analysed (See linked idea).
2. Some profit can be taken.
3. A potential bid may occur at the support level (8300)
4. Keep holding.
5. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
TELKOM SA SOC LTD JSE TKGTELKOM SA SOC LTD is Hitting a low 8250 then it will turn bullish up. Telkom is the real New Man in Africa. For Telkom show, it will stay for many years to come.
Telkom- SHORTThere's a mini "death cross" where the 21 day moving average has broken below the 50 day moving average which is quite a bearish indicator for the short to medium term. When going short based on this occurrence, one can never expect to get short at the highs, but rather trade the momentum that is dragging the moving averages down...I'm just looking for 6 bucks... (looking to enter at 88.00 or better)
Telkom bear flagging on the daily? $JSETKGTelkom has had a decent correction from its recent highs close to R100.00. Price has been consolidating this down move in the form of a bear flag, which is usually a continuation pattern in the direction of the previous trend. Should the daily break below this flag pattern @ R88.00 we could see price fall further to R80.00. Also interesting to note is that the massive rally all the way from R50 saw the stock consistently trade above both its 20 and 50 day moving averages. Only with this most recent correction have we seen price fall below these moving averages and this is possibly starting to indicate a change in trend for the counter going forward
JSE:TKG - Inverted Hammer
Inverted hammer on the daily off ~8775 support
100day EMA above 200day EMA Bullish Trend
CCI creeping toward -100, indicating slow but steady buying pressure
