On October 16th I published my thought about Dt. Telekom. Well, a months later let us see how the paper continued.
As mentioned in my blog the value of the stock continued to drop. It was passing the 200 days line, did do a short fight to go back, created on November 1st again a sell signal and falls to the south. Last Friday the journey was done. The chart went through the upper borderline of the overall negative trend channel. The paper left this channel in June, got 23% increase and is now back in the trend channel. Since I published my sell recommendation the stock went down by 10% and I am sure this is not the end. I cannot see any indication the trend will change soon. I have to admit the stock is now bouncing around the upper line of the trend channel but I am not sure if the line will work as a resistance line.
The stock price is low, very low. RSI is under 25. But PVI and MACD do not indicate any change soon. The Trend indicator ADX with over 70 is an indicator the drop down will continue. The lower line of the trend channel is around Euro 7,70. We will see if the stock will go so far.
But as always: Just my 5 cents......
As mentioned in my blog the value of the stock continued to drop. It was passing the 200 days line, did do a short fight to go back, created on November 1st again a sell signal and falls to the south. Last Friday the journey was done. The chart went through the upper borderline of the overall negative trend channel. The paper left this channel in June, got 23% increase and is now back in the trend channel. Since I published my sell recommendation the stock went down by 10% and I am sure this is not the end. I cannot see any indication the trend will change soon. I have to admit the stock is now bouncing around the upper line of the trend channel but I am not sure if the line will work as a resistance line.
The stock price is low, very low. RSI is under 25. But PVI and MACD do not indicate any change soon. The Trend indicator ADX with over 70 is an indicator the drop down will continue. The lower line of the trend channel is around Euro 7,70. We will see if the stock will go so far.
But as always: Just my 5 cents......
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