Telecom Plus (LSE:TEP)
As with many shares currently, there’s something a bit funny going on with this lot’s share price. Perhaps news relating to Dixons Carphone (DC.) is tending to add depression or perhaps it’s simply the monsoon rain forcing misery to take hold. But…
It appears continued weakness below just 1,024p should drive Telecom Plus' (TEP) share price back to 958p. The proximity of a red line – the uptrend since 2010 – tends to suggest some sort of bounce should occur, should 958p make a guest appearance.
The bigger problem will occur should the price be permitted to close a session below 958p as some real trouble will make itself known.
- Is Telecom Plus collapse an opportunity?
Essentially, to cut through the static, closure below red enters a region where reversal to 517p becomes very probable. Secondary, if broken, calculates at an “ultimate” bottom of 404p, the point below we are not comfortable projecting. For now though, it appears 958p shall prove capable of provoking some sort of bounce.
For the future, any bounce capable of bettering just 1,240p should prove quite interesting, given our initial longer term target calculates at 1,713p. If exceeded, our secondary comes along at just 1,775p which tends to suggest we should anticipate stutters in the 1,700p range, if the given scenario ever bears fruit.
However, for the immediate future, we suspect 958p should prove of some use, if wanting to catch some sort of bounce in the 5-10% range.
Source: interactive investor Past performance is not a guide to future performance
Alistair Strang has led high-profile and “top secret” software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know “how it worked” with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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