Telkom has established a strong support line at R 22.00 and seems to be marching towards the R 30 price again. There is a minor resistance at R 29 and the next major resistance is at R 32. Since September we see it has also established a strong uptrend support line which has been respected until now and its likely the fluctuations will continue to bounce on this line. However i do also see its struggling to cross R 28.00 and we can hope this isn’t a strong resistance forming.
Better to wait this out now to see how the price will react once the R 30 share price is reached.
Better to wait this out now to see how the price will react once the R 30 share price is reached.