Buyers pushing up out of contraction as price is set to run to highs

New Buy Entry Alert TPM

Time Frame : Daily/Weekly

Sector : Telecommunications Services

Key Stats : $6.68 Billion Market Cap, VWAP 7.28, ASX Ranking 64, 4 Week Av Turnover $8,205,199, Current Turnover (Intraday as at time of alert) $1,189,892, PE 16.8, Div Yield 0.56%.

Company Overview : TPG Telecom Limited (TPM) is an Australian-based multi-media full service telecommunications company providing consumer, wholesale and corporate telecommunications services. The business offers voice, internet and data solutions to a range of customers from consumer to SME, corporate and government sectors.

Broker Consensus : HOLD

TPM – TPG Telecom Limited

TPM is showing some strength in buying and is poised for a longer term move up as key resistance is under fire. We see the buyers are pushing off lows and out of longer term contraction so its time to get on board. We are happy to buy on a push up through 7.37 and hold the stop loss at 6.50. If price falls below 6.50 prior to entry, then we will cancel the entry alert and re-assess the action.

Stock Code : TPM – TPG Telecom Limited

Company Website : www.tpg.com.au

Current Price : 7.30

New Potential Buy Entry (Trigger Level) : 7.37

Potential Sell Exit Zone (Stop Loss) : 6.50

Status : On watch for buy entry trigger