The chart tells the story quite accurate. We are within a textbook longterm uptrend.
The market has been consolidating for about a year, creating a big range, that is in my opinion currently coming to an end and providing us with a beautiful buy opportunity.
In recent weeks the market formed the right shoulder of this inverted S-H-S pattern and it led to an impulsive wave towards the 16 handle. In my opinion it confirmed that dips towards the important 15 figure should be bought with a stop below 14.
Deutsche Telekom might be in 2017 on its way towards 20 or even more.
Interim resistance is around 17.50, partial profits can be booked there and stop should be of course trailed.
Also looking at the fundamentals, shows Deutsche Telekom is based on a solid footing and there is quite a bullish potential showing.
Good luck and keep it simple.
The market has been consolidating for about a year, creating a big range, that is in my opinion currently coming to an end and providing us with a beautiful buy opportunity.
In recent weeks the market formed the right shoulder of this inverted S-H-S pattern and it led to an impulsive wave towards the 16 handle. In my opinion it confirmed that dips towards the important 15 figure should be bought with a stop below 14.
Deutsche Telekom might be in 2017 on its way towards 20 or even more.
Interim resistance is around 17.50, partial profits can be booked there and stop should be of course trailed.
Also looking at the fundamentals, shows Deutsche Telekom is based on a solid footing and there is quite a bullish potential showing.
Good luck and keep it simple.
