Any ideas to Vodacom listing price or will this only be decided come 26 March? The 1:1 makes sense as their 35% holding equals around the Telkom price, however means Telkom is for free and the special dividend is also mahala nog. Their is definate value and Telkom is worth something lots of assets, When will the Telkom share price start moving, any ideas? It will happen! :)
TKG - Overall outlook is BEARISH in the medium to long term Overall trend for TKG is DOWN with some recent consolidation. Consolidation took place between 10 Dec 2008 and 19 Feb 2009, the range was between 11585 & 10860. During the consolidation (possibly market-maker accumulation) phase , resistance was tested 5 times on low volume suggesting that limited buyers were available in the market. The major resistance during the above consolidation coincides with a HIGH (11900) made by a previous corrective move and more importantly the 50% Fibonacci retracement level. This confluence of the 50% Fib level of tested resistance suggests that this level was a STRONG level and it has been rejected 5 times confirming it's strength. Importantly PRICE ACTION tells us that a BEARISH WEDGE pattern formed during consolidation and a breakout occurred followed the break of a some medium SUPPORT at 10860. Currently TKG is testing support at 9800 , a break of this level would open up price to SUB 9000. Higher Volume on the recent down move indicates that STRONG sellers have entered the market.