Tag: ASX:TPM

TPG Telecom short term traders may wish to take profit on TPG Telecom, following the recent rally.

TPG Telecom is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

We see price support near $7.00 and suggest watching the short-term momentum indicators for a turn higher.

Our ALGO engine triggered a sell signal in TPM at $6.36 on the ASX close on Friday.

After posting a low of $4.85 on September 28th, shares of TPM have rallied impressively on a series of fiber-optic contracts won from the South Australian state government.

However, the technical chart pattern is still defined by a “lower high” formation which suggests lower prices over the medium-term.

We see the next key support level at $5.90 and suggest exiting long positions at or around $6.40.

TPG Telecom

TPG Telecom (TPM.ASX) FY16 result is at the bottom end of their guidance. FY16 underlying EBITDA was A$775m versus guidance for A$770-785m.

FY17 guidance has come down from consensus expectations of A$885m to now guiding in the range of A$820-830m EBITDA.

This is a weak result relative to their recent history of beating guidance and market expectations. Reflected in the markets 17% sell-off today!

TPM declared a $0.07 final dividend.