Technicals | Aug 20 2019
By Michael Gable
In this week's report we have a warning on Telstra Corporation ((TLS)).
TLS looked to be on course to hit resistance near $4.15 but it is now likely to fall short. It has provided us with a reversal signal on the weekly chart (circled), along with a sell signal on the MACD. If TLS cannot push beyond $3.90 in the next week or two, then that would be a negative sign and would indicate that the share price is likely to drift lower again.
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Michael is RG146 Accredited and holds the following formal qualifications:
• Bachelor of Engineering, Hons. (University of Sydney)
• Bachelor of Commerce (University of Sydney)
• Diploma of Mortgage Lending (Finsia)
• Diploma of Financial Services [Financial Planning] (Finsia)
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2
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