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.

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.


Telstra Corporation is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

We see buying support at $3.00 and highlight the short-term indicators have now turned positive. 

TLS goes ex-div $0.05 28th August. 

Call our office on 1300 614 002 to discuss the derivative strategy to enhance the income return.