##{"id":63318,"date":"2014-03-24T10:22:19","date_gmt":"2014-03-23T23:22:19","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2014\/03\/24\/downside-pressure-for-telstra\/"},"modified":"2014-03-24T10:22:19","modified_gmt":"2014-03-23T23:22:19","slug":"downside-pressure-for-telstra","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2014\/03\/24\/downside-pressure-for-telstra\/","title":{"rendered":"Downside Pressure For Telstra"},"content":{"rendered":"

By Nick Linton-Ffrost<\/p>\n

We suspect the next 3-5 days trading and the price action around 5.10 and 4.95 will determine Telstra ((TLS)) direction for the next 2-3 weeks.<\/p>\n

Trading below 4.95-5.00 for a few days brings the bearish wedge pattern into play which would improve the odds for a move towards 4.70.<\/p>\n

Whereas a few days trading back above 5.05-5.10 would imply a return to the two month trading range between 5.00 and 5.30. Before trading from the long side we require a high low to from above 5.00.<\/p>\n

Trading tactics<\/strong><\/p>\n

Open shorts after a few days trading below 5.05 placing stops above 5.15 and looking for a move to 4.70.<\/p>\n

\n\"\"<\/p>\n

\nAnother trading idea from<\/strong><\/p>\n

Fifth Wave |<\/strong> fwtc.com.au<\/strong><\/a>                                               <\/p>\n

FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27years experience<\/strong>.<\/strong><\/p>\n

 AFSL 319830 |<\/strong> Disclaimer<\/strong><\/a><\/p>\n

Reprinted with permission of the publisher.<\/em> Content included in this article is not by association the view of FNArena (see our disclaimer<\/a>).<\/em><\/p>\n

Technical limitations <\/strong><\/em><\/p>\n

If you are reading this story through a third party distribution channel and you cannot see charts included, we apologise, but technical limitations are to blame.<\/strong><\/em><\/p>\n

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Nick Linton-Ffrost of Fifth Wave suggests a short-term trading idea in Telstra.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[30],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/63318"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=63318"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/63318\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=63318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=63318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=63318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}