Opinion--TLS

Charting--bearish downswing Telstra 4.305.3016/5/02 9:26:12 PM
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On charting Telstra is still in a bearish downswing from when it first floated--at one time I discounted 4.30----(a lot will depend on what TLS does---and the sector it operates in)---if you looked at it in strictly charting terms--without any other analysis---I would say it has a reasonable possibility of going to around 5.30--to 5.40--from where it is now---I would say looking further out-just on the chart alone-it will go down to 4.30----but one increase of the dividend--would prevent that from happening-for at 5 on dividend yield it is supported (based on the way things are now--with it's fundamentals--which could change either to the negative or the postive)(and then their is index buying and selling which affects the share price)so therefore if Telstra is supported by dividend yiled at around 5--any selling pressure that forces it down below 5--means Telstra is oversold-the chart may tell me it is oversold---but I also analyse the company as well--and that also tells me it is oversold.