TEL bottomed short term after hitting 2572. Bought a few shares near 2582 and is expected to reach 2700 level.
TEL recently broke down from 2700 level and now became a resistance, if
TEL manage to get up to above 2700, we may see it reach up to 2750-2790
until end of year.
PSEi manage to get up by few hundred points with the help of overbought rallies of TEL,MBT,BDO, SM and others.
PSEi resistance is now at 6,200, where it broke down recently.
6200 resistance :
- where it broke down
- downtrend line since end of Oct
- 50% retracement of Nov 18 peak before it went down near 59xx level.
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