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XTJ Telecommunications Services Index - Charted

Discussion in 'ASX Stock Chat' started by Ann, Oct 29, 2018.

  1. Ann

    Ann

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    Currently there are six stocks that make up the XTJ Telecommunications Services Index at the time of posting.

    CNU - Chorus Limited
    SPK - Spark New Zealand Limited
    SDA - Speedcast International Limited
    TLS - Telstra Corporation Limited
    TPM - TPG Telecom Limited
    VOC - Vocus Group Limited

    In comparison to most of the other Indices the XTJ has not been traveling well. However this may all change. If there is a down turn in the markets, some or all of the Telcos may have something to offer. Currently the chart for XTJ is very close to a double bottom coming from 2010/2011 of around 900. It has broken free from a very sheer overhead falling resistance line coming from July 2016. Around the 1,200 resistance level it has caused a falling back from a good effort to rise. the 1,200 level may or may not act as an overhead resistance line on the way back up. I am thinking not much (IMO). However I would like to see it traveling sideways for a bit just to gain a bit of consolidation if it is for a move back up again. If it drops below 900 it will not be a pretty story.

    XTJ oct2018.png
     
    Darc Knight and Trav. like this.
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