Wednesday, July 7, 2010

Telecom NZ: Stock Finally Finds Support?



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

Telecom maybe oversold
Telecom NZ Share Price has "Jumped the Shark"
I was Wrong... sort of
Telecom NZ: TV3 60 Minutes Segment more like Corporate PR
Telecom Share Price Limbos but has it jumped the Shark?
Telecom NZ: Saint Gattung gets her Ya Ya's out
Telecom NZ: Bye Bye Paul Reynolds
Long Term View: Telecom NZ Ltd
Stock of the Week: Telecom Ltd
Revisiting Telecom

Getting cute and fluffy with Teresa Gattung
Telecom NZ Hangs up
Business Gobbledygook puts up barriers to communication
A Rare Breed
Telecom NZ facing a watershed period
Biology a major key in "glass ceiling" for women
Telecom rewards Gattung for mediocrity

Download every available TEL Annual Report Free

Discuss TEL at Share Investor Forum - Register free


From Fishpond.co.nz

Bird on a Wire: The Inside Story from a Straight Talking CEO

Buy Bird on a Wire: The Inside Story from a Straight Talking CEO & more @ Fishpond.co.nz

Fishpond


c Share Investor 2010