Can Telstra Hang On?

This story features TELSTRA GROUP LIMITED. For more info SHARE ANALYSIS: TLS

After going ex-dividend last week Telstra ((TLS)) is holding the dividend at $4.60 at present on 26th February.

Last night's price action in the US was bearish and it looked to the TechWizard that a run for the exits is about to happen for a decent correction

A daily close below $4.48 would usher in selling down to $4.20 but if TLS is favoured as defensive stock in this correction, a daily close above $4.68 would see $4.80 on the cards.

The TechWizard favours the downside.

 

The TechWizard is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at www.techwizard.com.au. All views expressed are the TechWizard's, not FNArena's (see our disclaimer).

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