TKG trade ideas
TELKOM - Pending Buyout- MTN is in the process of acquiring the remaining share of Telkom
- Evaluations have been cited of around R60+
- The inverted head and shoulders measured move would be perfectly validated if that is the case
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Disclaimer: All ideas are my opinion and should not be taken as financial advice.
TKG: volatility squeeze?A "Volatility Squeeze" occurs when the volatility of a share falls below its recent levels. A fall in volatility usually means that the share is in a period of consolidation and trending in a narrow range.
Such a scenario increases the likelihood of a break either to the upside or the downside.
Higher highs and higher lows, together with a test of the 200-day simple moving average support a break to the upside.
A price action above 4400 supports a bullish trend direction.
Crossing below this level will negate the bullish stance.
Remains a risky trade.
TELKOM -Long IdeaTelkom bounced off its primary trendline which offered an early entry
Price has just closed above the 50ma /200ma yesterday..
Pullbacks to R44-R45 may offer suitable entries for a move towards the up channel resistance. Below the recent swing low could open a possible bear flag break scenario...
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Watching $TKG closelyLooking at $TKG on the weekly chart price is currently moving within the upper bound of the channel. Zooming into the daily chart price is forming an ascending triangle. A long pos can be initiated when price breaks out of the setup and closes >5600. In the near term price needs to close above the SR level of 5700 and look to test 6000 for validation of sustained positive price action.
TELKOM - Bearish setup I favour taking long setups to shorts but the Telkom chart is looking pretty bearish and could possibly pull back to R43.20 and then R36.50 if no support is found.
A close above R49.50 will negate the view.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Watching TKG for a longPrice has formed this nice ascending triangle however if you haven't already bought TKG from its last break at 4400 then the R/R may not be suitable for a buy at a breakout of this setup. However if you are pyramiding then this is a decent level to buy more lots. Weekly volumes in this stock are a smidgen higher than the previous week, however the LT trend is up. Be wary of selling at the 5000 level. Always manage your risk
Telkom Shorty Macshort faceThis is what I see
Support line broke
50 EMA broken
200 EMA broken
Momentum waves to the down side
Money flow going into the red
See you guys at the the two fib levels, but most likely turn around on the 618 line. There could be some pull back to the 200 EMA but with money flow going into the red its just a formality.