Forum Archive Index - March 2002

["Peter" <pmaiden@today.com.au>]

Phaedrus - after you said the other day that TLS 'may strike some
temporary resistance at around $5.65' I was amused to see this on
egoli today -

   Telstra rally takes a breather. After soaring 7% during the first
four sessions on the week, largely on the back of reasonably upbeat
analyst assessments, Telstra’s run came to an end on Friday. Shares
in the telco dropped 3c to $5.65 ($5.56-$5.68).

That $5.65 resistance that Phaedrus mentioned is also one of those
Fibonacci retrenchment levels as well.

I suppose one close just above the line doesn't really count. The
slightly more conservative would have sought confirmation.

So is TLS taking a breather at $5.65? Is the rally over? Have these
analysts upbeat announcements convinced all those could be convinced
and there nobody interested left to convince?

Will TLS close above this resistance level on Monday so the primary
longterm downtrend shown on Phaedrus's chart is broken?
http://www.sharechat.co.nz/archives/current/msg00081.shtml

Or will the TLS price fall back to the mediumterm uptrend that
Phaedrus drew?

And what is the significance of those converging lines? Likes like
something has to give over the next few weeks.

What do others think will happen over the next few weeks?

Also a question for those who aren't interested in TA as well. What
do you people make of their interim announcement?

Cheers

Peter



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