Just how short is Telecom?
This stock, believe it or not has been in a wild, upwards spiraling rocketlike movement for over a year. The exponential rise over this time indicates to me, from personal experience, only one thing. This stock has to come down, probably soon. I say soon because the RSI is for some time in the overbought territory(above 70) and the thick blue upwards RSI trend line has just recently been broken on the weekly chart shown. The daily chart is not shown here because this is intended to be an example of a longer-term investment. If one chooses to sell short here at 3.70, and has the patience and nerve NOT to close his position, the next support will be at approx. 2..8 and after at 2.5. Volumes have been unusually high, indicating a fight to break the 4 barrier, which was unsuccessful. But, the volumes, as I have indicated on the graph are in a downward flow, showing that, perhaps the time is coming for a good short.
This is the way its graph looks:
