DBD Strategy Daily - EUROPEAN TELECOM : long-term trendline broken
The Telecom sector is a no-hope sector. It just sent an important sell signal as it ended August below a long-term ascending trendline. When those signals happen, the short-term is usually somewhat oversold. Our point view here is for the months and years to come, not what may happen in the coming two weeks. We assess that the major risk comes from Deutche Telekom. Technically, the stock may be forming a reversal pattern, though it has not yet been triggered.
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