TLS – Telstra Corporation Limited

tls-2

TLS – Telstra Corporation Limited

Current Price – 4.94    Sell Entry Level – 4.99    New Buy Exit Zone – 5.02    Status – Hold watching for continuation lower

TLS has pushed lower into the support zone at 4.92. We expect to see the lower highs put pressure on the buyers and see a push through 4.92 as some traders get caught on the wrong side of the market. We have moved the exit zone lower to 5.02. This is a minor level but we do expect to see a significant bounce if 5.02 can not hold as it would indicate that buyers are taking control. We will watch how price action plays out and look for a partial exit opportunity.