Telkom looks to be setting up a descending triangle with a price target that if met would trigger a symmetrical triangle currently 7 months in the making.
Note
The R30 support level proving to be fairly strong with a decent bounce the last two days.
Note
Trade entered last week with a first price target of R38.40, full pattern target of R56.00. Stop loss below R28.50.
Trade active
First target of 38.40 met back on the 8th of Feb. TKG looking good for the next leg up to the second target of R56.00.
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