Here is a buy setp in TPG Telecom $TPM TPG broke out of the triangle and a confirmed double bottom.
The price is above all moving averages and now acting as support.
MACD, RSI and DMI are looking good as well.
I went long this morning with a stop loss just below the 200-day moving average (red line)
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TPG Telecom Limited is an Australian telecommunications and IT company that specialises in consumer and business internet services as well as mobile telephone services. As of August 2015, TPG is the second largest internet service provider in Australia and is the largest mobile virtual network operator.
TPM
TPM Merging with Vodafone?Will the ACCC WELCOME and ENDORSE the Merger between Vodafone and TPG?
As talked on Money News if so we are going to see a $10 TPM stock and the charts showing some optimisim that the merger will get approved.
MAY 9, 2019 IS the NEW PROVISIONAL DECISION DATE FOR TPG TELECOM'S PROPOSED MERGER WITH VODAFONE HUTCHISON AUSTRALIA PTY LTD.
TPG Telecom bouncing off the weekly SMA200TPG Telecom (ASX Market) has greatly increased since 2012, then from Aug 2016 had a sharp fall. Some people consider the management is strong, even if their business decisions are not always popular. I don't know if their decision to become the fourth mobile provider in Australia is good or bad (some other companies failed while trying this). But there could be an opportunity to buy into a company that was (and it may still be) a good company at a premium price. For long term, I think it may be good to buy at any price under $6 (maybe it may drop to $5.70 in the next days) with a stop loss of $5.50. For long term (perhaps 6 months), the target would be $8.30 or above. Another possibility would be to choose a stop loss of $4.90 and a target of $8.90
