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Telstra end of downtrend

  1. fbmnom

    404 Posts.

    According to my estimates, Telstra is about to break its 30 month downtrend.

    If you draw a line on a chart at

    30 Nov 99 @ $9.16
    7 Mar 00 @ $8.71
    18 Apr 01 @ $6.92
    5 Jun 01 @ $6.50
    16 Jul 02 @ $4.93

    It is close to the line and it can either cross the line or head sharply down again and my feeling is that it will cross the line this time and make a clean break of the 30 month downtrend.

    I do not pretend to be a reader of charts, but given the determination of the Government to sell its part and the dismal performance of the competitors to Telstra, I am becoming more confident every day.


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