Telstra – trading the breakout

With China’s flash PMI again being on the wrong side of 50, it’s possible we may see some rotation back into defensive stocks.

Against that background, I thought this triangle break in Telstra looked interesting from a short term trader’s perspective.

The target on the daily chart projects the height of the pattern from the today’s break out level. The stop is set behind support back in the body of the triangle

Cheers

Ric

About Ric Spooner

Over 30 years market experience - professional trader, broker, director
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