TELESTE (TLT1V) | Under The Fair Value, Potential +30-40%

Hi,

Another stock idea, they have been pretty accurate so, let's hope that the pattern doesn't change :)

Teleste Corporation provides video and broadband solutions, and network services in Finland and internationally.
I have great news for investors because it starts to approach technically a good rejection area, plus - Teleste trading below its fair value and earnings are forecasted to grow. The fair value should stay €7-8.

Technical criteria:
1. The light-blue horizontal line represents a strong area. This price zone has been four-time yearly high or yearly low and currently, it should act as a support.
2. The gray trendline, it is not a textbook trendline but in the stock market, they don't have to be so perfect as they should be in Forex trading. They both make up a crossing area which is already a good sign on the Monthly chart.
3. There is also a minor red trendline, waiting for a third touch which should act as a support.
4. 50% from the recent high. Actually, the bounce-pocket stays between 47-53% and this matches exactly with our other criteria.

So, a Monthly chart and a pretty solid crossing area.
For short-, mid-term investors (let's say 2 months or half a year) - wait for a Weekly bullish candlestick pattern.
For long-term investors - technically a good entry stays between €4.2 - €5.00


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Best regards,
Vaido