Buy TPG Telecom
TPG Telecom rallied from its $7.07 low and the short-term indicators have now turned positive.
TPG Telecom has traded down to $7.07 and we see an opportunity approaching where the stock price is likely to reach oversold levels.
Keep an eye on the short-term momentum indicators, especially if we see a probe below $7.00.
TPG Telecom has traded down to $7.50 following a research report published by a leading investment bank this week, which highlighted a series of risks facing the business.
Despite the report, we see value in TPG and expect the stock to trade higher from the current level.
Since making the above post on 23 July, TPG has rallied to $8.20 and closed near $8.00 on Friday. We continue to see value in TPG and suggest investors watch for another entry opportunity below $8.00.
TPG Telecom offers value at around $8.00 and we suggest investors accumulate the stock.
Tuas Limited (Tuas) was incorporated in March 2020 as part of the TPG Telecom Limited group of companies (TPG).
TPG has demerged its TPG Singapore mobile business, TPG Telecom Pte Ltd (TPG Singapore), from the broader TPG Group by transferring all the shares in TPG Singapore to Tuas.
The demerger and separate listing of Tuas occurred on 30 June.
We see value in the new TPG Telecom business and will revisit the buy opportunity on the next higher low formation.
We’re watching FXJ and TPG as potential short trades: Selling at a higher price and buying back at a lower price.
FXJ – Short with stop loss back above $0.79
TPG – short with stop loss back above $6.37