A Telco in a prime position to drag in some buyers to continue the trend up

Potential Buy Entry Alert to Watch SPK

Time Frame : Daily/Weekly

Sector : Telecommunications Services

Key Stats : $7.05 Billion Market Cap, VWAP 3.826, ASX Ranking 57, 4 Week Av Turnover $3,072,629, Current Turnover (Intraday as at time of alert) $847,680, PE 19.9, Div Yield 5.07%.

Company Overview : Spark New Zealand Limited (SPK, formerly Telecom Corporation of New Zealand Limited) is a NZ telecommunications service provider, offering a range of services and products to consumers and businesses. The Company has following business units: Spark Home, Mobile & Business; Spark Digital and Spark Connect.

Broker Consensus : Not covered by a major broker

SPK – Spark New Zealand Limited

SPK has fell away from highs in December but is now in a prime position for buyers to put in the groundwork to continue the trend higher. We are now watching for evidence that buyers are doing just that by building a higher low for a move up through 3.95 to drag in further buying. Watching now for the setup.

Stock Code : SPK – Spark New Zealand Limited

Company Website : www.spark.co.nz

Current Price : 3.835

Status : On watch for potential higher low and move through 4.15