Technical outlook – Using the many tools among the technical stock analysts, the Moving Average Convergence Divergence (MACD), which is a trend-following momentum indicator shows the relationship between two moving averages of prices.
Combining the MACD signal with the share price, we can often determine when the next bullish/bearish breakout may be pending.
With the indicator breaking below the 0.00 axis (five-days ago), supports a pullback.
Therefore, we anticipate a move towards a potential target of $3.60-65, before giving the call to a potential bull-zone (demand/buy).
Company Overview – Telstra Corporation Limited (TLS) is a provider of telecommunications and information products and services through its Australian and offshore operations.
TLS has a range of businesses, namely fixed broadband, mobile, data and IP, network application & services (NAS), digital media and international.