– – – Market Flash – updates through the trading day – – –
Bitcoin fails to break resistance (BTC)
As highlighted yesterday, Bitcoin needed to tackle an immediate resistance level as well as its 100 Day Moving Average (DMA). It’s failed on a first attempt and has fallen back under $10,500 as I write. Local support can be found around $10,000, which also provides additional strength being such a pivotal round number. There is a risk, however, that we may see a drop back to the 200 DMA, currently $8,275.
Is it time to make a buy call on Talk Talk? (TALK)
Earlier this month, Talk Talk Telecom PLC (LSE:TALK) raised £200m in a placing at £1.07. This coincided with a cut of its Dividend payment from 7.5p to 2.5p, announced in the company’s Q3 Trading update. Talk’s has continued to slump from its high of 220 last November and has dropped over 4% today. Its share price is nearing the bottom of a long-term downtrend that spans the past 2 years. Touchdown on the bottom trendline would currently occur at around 93.5p and could provide support for a recovery bounce.
Author: Stuart Langelaan
Disclosure: The author of this piece holds a position in the company written about above