Forum Archive Index - December 2001

[Phaedrus <Phaedrus@techemail.com>]

The TEL chart is at a very interesting point - this will be a crucial week for 
the stock. 
 If the current medium-term uptrend continues, price action will move above the 
long-term down trendline for the first time in about twenty months, giving a 
very bullish picture. 
 If prices fall this week, the confirmed medium-term trendline will be broken, 
and the tentative long-term trendline will be confirmed. This would put TEL 
back into short, medium and long-term downtrends, with strong bearish 
implications.
 I bought on 29/10/01 at $4.61 on the basis of the trendline break, and will be 
looking to hold if prices move above the long-term trendline, or sell if prices 
move below the medium-term trendline. This could lead to an interesting 
situation, in that if prices crab sideways, both of these conditions will be 
met. I do not consider this to be very likely - you can see from the chart that 
TEL is usually going up or down, and rarely if ever moves laterally. If this 
does happen, I will delay any Hold/Sell decision until the situation is 
resolved one way or the other.
                Phaedrus

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