Long

7.77% in 7 days in Turkey [Exotic Markets] {Turkcell}

If you're anyhow familiar with exotic markets you know how volatile prices are. A great example was this last week when we had the price of TURKCELL (Ticker: TCELL) move +20% in total. This was mainly due to an unexpected increase in earnings and revenue, 7.60% and 4.56% respectively. In terms of earnings and revenue surprises, last quarter we had a bad one which led to a bearish rally in price which might have come to an end now that we have a positive outlook with this qs numbers. With the next earnings and revenue numbers coming in October (for which we have even better expectations) there's enough time for the price to retest the highs, especially now that the weekly has closed above a significant level of resistance, which strengthens the argument that the previous quarters bearish rally is over and we are looking at a bullish rally ahead.

KoZhanLee

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