Resistance: 1487 / 1600
Given the recent bullish price movement, TEL is poised to retest towards its recent high of P1,487.00.
We think a break above P1,487.00 will result to a retest of its 2018 levels around P1,600.00.
The MACD indicator confirms the bullish momentum with the MACD line trading above both the signal and zero lines.
We recommend buying once the stock breaks above P1,487.00.
Set cut loss below P1,380.00 and begin taking profits around P1,600.00.