Yep, I am looking at Telecom New Zealand [TEL.NZ] again. Since our last visit to the house of falling knives
the stock closed yesterday at $1.83 on low volume after reaching an all-time low of $1.81 on Monday (see chart below for price history).
Over the last month the stock has been trading mostly in the $1.80 - $1.90 range with a brief breakout above $1.90 in late June.
It seems that the stock may have some good support at these levels and the market appears to be saying that this is the value of the company,unless we get more company specific bad news or there is another overall market slump - the second scenario almost being guaranteed.
Buying now at these levels if you were interested in TEL is good buying but be patient for more bad news and you could get stock for much less.
| Date | Open | High | Low | Close | Value | Volume |
| 06 Jul 2010 | 1.820 | 1.840 | 1.780 | 1.830 | 5,094,764.840 | 2,810,864 |
| 05 Jul 2010 | 1.840 | 1.850 | 1.810 | 1.820 | 5,238,501.270 | 2,870,141 |
| 02 Jul 2010 | 1.840 | 1.840 | 1.810 | 1.840 | 17,518,102.840 | 9,544,061 |
| 01 Jul 2010 | 1.880 | 1.890 | 1.830 | 1.830 | 12,500,097.720 | 6,706,357 |
| 30 Jun 2010 | 1.860 | 1.890 | 1.850 | 1.890 | 15,272,041.030 | 8,122,635 |
| 29 Jun 2010 | 1.900 | 1.900 | 1.870 | 1.890 | 21,519,036.210 | 11,368,345 |
| 28 Jun 2010 | 1.970 | 1.970 | 1.900 | 1.900 | 19,243,991.610 | 10,032,644 |
| 25 Jun 2010 | 1.980 | 1.980 | 1.940 | 1.970 | 15,714,758.000 | 8,002,182 |
| 24 Jun 2010 | 1.950 | 1.970 | 1.930 | 1.970 | 22,252,800.380 | 11,449,639 |
| 23 Jun 2010 | 1.900 | 1.950 | 1.900 | 1.950 | 17,504,786.530 | 9,172,350 |
Telecom NZ @ Share Investor
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From Fishpond.co.nz
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c Share Investor 2010
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