A Technical look at Telstra as bulls may be showing some interest

Company Technical View TLS

 

TLS – Telstra Corporation Limited

Time Frame : Daily/Weekly

Sector : Commercial & Professional Services/Waste Management

Key Stats : $36.16 Billion Market Cap, VWAP 3.03, ASX Ranking 10, 4 Week Av Turnover $67,550,736, Current Turnover (Intraday as at time of alert) $12,527,052, PE Ratio 10.1, Div Yield 4.93%.

Company Overview : Telstra Corporation Limited (TLS) is a provider of telecommunications and information products and services through its Australian and offshore operations. TLS has a range of businesses namely fixed broadband, mobile, data and IP, network application & services (NAS), digital media and international.

Broker Consensus : HOLD

 

Stock Code : TLS – Telstra Corporation Limited

Company Website : www.telstra.com.au

Current Price : 3.035

TLS has been on the back foot since early 2015 as their landscape changed and competition got more aggressive. We have been on the short side quite a few times and done well on the move lower. Recently we alerted to another potential sell opportunity, but with recent price action, we have reason to pause. Taking a look at the action a little closer, the price is showing signs that buyers are starting to jump in potentially to support the $3.00 zone. Of course, we could be wrong and the price could easily take another nosedive but the current action at low levels may suggest the sellers are done and it could be time for another move up from the trusty Dividend investors.