Telstra

Telstra Corporation is under Algo Engine sell conditions after forming a lower high formation at $3.60 back in July.

Telstra reported revenue for the year down 6% to $24bn, profit down 14% to $1.84bn.

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Telstra estimated the coronavirus economic-related impact caused a $200 million hit to earnings.

Telstra is likely to trade within the $3.20 support to $3.50 resistance range until late 2021 when we look for the further action on Infrastructure Co spin-off to result in a break to the upside.

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