Trade Ideas: TLK

My Trade Ideas Base scan was popping out picks at a reasonable clip; to generate 8 picks required less than a minute of the software's time. One of the most frequent to appear over the course of the day was PTTelekom Indonesia (TLK); the stock appeared 23 times.

The stock has formed a nice handle of support around $34 (with resistance at $36) after a scrappy bottom in May-July. There would be some concern with the lack of volume in its most recent ascent, so potential buyers may wish to wait for some heavier volume before entering. Stops can be placed on a break of the rising trend line highlighted in pink. The point-n-figure chart holds to a Triple Top Breakout from July 28th, and has a price target of $51.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk. provides fixed line telecommunications services in Indonesia. It provides fixed telecommunication services, which consist of fixed wireline and fixed wireless; cellular; interconnection; network; data and Internet; and other related services, including telephone directory services and building management services.

If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.

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