TEL encountered resistance at P1,309.00 to close at P1,280.00.
We believe the stock remains sideways between P1,235.00 support and P1,337.00 resistance the short term.
We recommend accumulating at the support zones near P1,270.00 and P1,235.00 with a medium term target of P1,337.00 and P1,385.00, place a strict mental stop if the stock closes below P1,235.00.
Material in this article is obtained from sources we believe to be reliable, but its reliability or precision cannot be guaranteed. This is for the sole purpose of providing details and does not provide an offer from us to buy or sell securities mentioned in this document.