After hitting a high of $21.50 at the end of May this year, the share price of the world’s largest
telecommunications provider a sell-off of 13%. When reaching a support at
$18.70, the stock began to recover in mid-June, among other things investors wanted to
not miss out on the dividend distributed on July 8.
As a result, the share price reached a high of $21.30 again on July 01, but was unable to reach the old high of
can no longer top. It has since fallen back to $20.70.
At the moment, the price seems to be forming a double top, but would have to be
support level at $18.70. A short opportunity could arise here at the
Crossing with the 50 Moving Average Daily resulted, which is currently at $20.40.
At the latest by completing the double top there is the possibility of a short until the next
Support at $17.00.
Otherwise, the share price could face a further rise, for a long-term recovery of the
share, I think the price should break the downtrend at $22.00 dollars. Should the
price respect the downtrend, however, we could see price declines again, which could
in turn offer short opportunities.