UK 20:24 Friday, 9 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
It has been quite easy to be short to be short of Telecom Plus (TEP) in recent months given the quite painful looking decline that we have seen on the daily chart since the stock peaked out in the first quarter of 2014.
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Comments
CHARTMAN
Yes, looks very promising indeed. Not only broke up through and free of the 50 week sma but tonight rests smack dead upon the 100 week sma (930p). Some going.
Will the long term 200 week sma (1099p) act as it’s resistance I wonder? If it breaks the 200sma it’s game on – but that would be like asking for another 18% rise from here.
One small matter though. The ever reliable RSI shows TEP now officially in overbought territory (because the SP has advanced so quickly).
Over 70 is considered overbought – with all that entails of the inevitable retrace falling upon its head for advancing so rapidly, and tonight it’s showing as just over and into that territory at 73
Hmmm….how many days will it remain over 70 without a retrace? A fortnight? Longer? Nobody gets long above 70 – you have to sneak up on the RSI stalk it stealthily, steadily – not run at it, in a mad rush of blood to the head.
73 is saying too rapid, too soon.
This WILL be interesting to watch.
Bladdy well knew I should’ve bagged it a just a mere month ago in the 760p’s etc., There was about a week of it taunting one and all, sticking it’s tongue out in the 750p’s – all barely a month ago!
Told myself at the time – you’ll be sorrryeeeeee, if you don’t, I said.
But I can’t participate now, it’s date-stamped with a 73 on it’s forehead.