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 breakout may be pending. With the indicator just breaking over the 0.00 axis (two-days ago), supports a potential bullish breakout. Therefore, we anticipate an upward move to a potential target of $3.57 is imminent.
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. The Company provides 17.7 million retail mobile services, 4.9 million retail fixed voice services and 3.6 million retail fixed broadband services.