A person really competent, on my opinion, is Mr Brian Gaynor who usually writes good and technical article on NZ Herald business section. In his last, I read about his consideration about the 3 most important company on the New Zealand Financial Market.
2 of them I've already said my idea, and it's well known for who's been following me since I opened this blog (you can have a look a this previous post : http://nztechnicalanalysisabroad.blogspot.com/2008/05/telstra-vs-telecom-nz.html
http://nztechnicalanalysisabroad.blogspot.com/2008/06/telecom-update.html
http://nztechnicalanalysisabroad.blogspot.com/2008/07/telecom-what-to-do.html)
Anyway, I wanted to update my view on Telstra and overall on Fletcher, whom I 've never talked about it. You could find something interesting, I think.
In brief......
Telstra will become really good only if it can break area 6.00 Dollar and with strong Volume.
Fletcher, on the contrary, may be good right now !
I think this share can over-performance in the next weeks, even if only for short time.
If Monday it opens positive, I m gonna buy it and I will put a stop loss just some ticks under the Thursday low.
Have a good trade !
Bye
The Purple Prince
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