TELECOM ARGENTINA SA - NYSE: $TEO On Watch
Updated
After breaking into higher ground last week on solid volume, shares of TELECOM ARGENTINA SA - NYSE:TEO appear to be turning the tide and in the process, has recaptured its 200 DMA and now finds itself in position to perhaps start its ascent into northern territory evidenced in the Daily chart above.
With the move above its 200 DMA, we can observe that TEO now finds itself trading above all of its important moving averages 20/50/200 DMA's, which portrays a healthy technical posture.
In addition, it also appears that TEO may now find itself in the the very early innings of entering Stage II advance. While further work is required, we are placing the stock front-and-center on our radars for further monitoring moving forward with the thought process that the 19-20 and perhaps 22-24 objectives may come into play.
Thus, both investors/traders may want to continue to monitor the action in TEO closely in the days/weeks ahead for further evidence that we may just be in the early stages of its next meaningful advance into greener pastures.
With the move above its 200 DMA, we can observe that TEO now finds itself trading above all of its important moving averages 20/50/200 DMA's, which portrays a healthy technical posture.
In addition, it also appears that TEO may now find itself in the the very early innings of entering Stage II advance. While further work is required, we are placing the stock front-and-center on our radars for further monitoring moving forward with the thought process that the 19-20 and perhaps 22-24 objectives may come into play.
Thus, both investors/traders may want to continue to monitor the action in TEO closely in the days/weeks ahead for further evidence that we may just be in the early stages of its next meaningful advance into greener pastures.
Order cancelled
Too much geopolitical risk in Argentina.
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