Telco stocks trading individually NOT as a sector
Standing back from the above announcement, the market has treated the Australian Telco's on a very individual basis compared to the banking sector that has basically moved as one large unit. Interestingly however, the negative standout in the Telco’s is Telstra and the way it has been treated very similarly to the out of favour banks / "yield play"; that said, November’s looming dividend is potentially adding some short term support. Importantly Vocus which Market Matters has been fan of over the year is only 10c below the technical target of fresh all-time highs for 2015. With this morning’s announcement we will be watching the price action with a view to taking profits and potentially switching to a better opportunity. (VIEW LINK)
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