TPG - Bull run off Merger - HOLD
Hello,
Just a quick technical update on T-P-G.
T-P-G has seen a massive bull run off confirmation that they are in talks with Vodafone over a potential merger.
Shares jumped 20% yesterday, followed by around 15% at the start of the morning today (23/08) then a reversal back to its original starting point of the day @ $7.75.
As the price has reversed from a intra day high of $8.70 to its original price of $7.75 @ the start of the day, coupled with a long bull run in the past few days, this may signify a Spike High followed by a price reversal tomorrow and next week. (Also worth noting that the stock was trading in a range of $5.20 to $5.70 for weeks/months before suddenly entering a bull run off no news last week, then was followed by a huge announcement??? Potential learning experience here to remember?)
Best to HOLD for investors/traders that can take the risk, or SELL if you have low tolerance to risk, as these merger talks are not confirmation that it will occur. I estimate that the price could consolidate around the mid to low $7 mark tomorrow/next week.
@ RuperCapital
Just a quick technical update on T-P-G.
T-P-G has seen a massive bull run off confirmation that they are in talks with Vodafone over a potential merger.
Shares jumped 20% yesterday, followed by around 15% at the start of the morning today (23/08) then a reversal back to its original starting point of the day @ $7.75.
As the price has reversed from a intra day high of $8.70 to its original price of $7.75 @ the start of the day, coupled with a long bull run in the past few days, this may signify a Spike High followed by a price reversal tomorrow and next week. (Also worth noting that the stock was trading in a range of $5.20 to $5.70 for weeks/months before suddenly entering a bull run off no news last week, then was followed by a huge announcement??? Potential learning experience here to remember?)
Best to HOLD for investors/traders that can take the risk, or SELL if you have low tolerance to risk, as these merger talks are not confirmation that it will occur. I estimate that the price could consolidate around the mid to low $7 mark tomorrow/next week.
@ RuperCapital
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