Email of the day on Australia fibre optic rollout and Chart Library enhancements
Comment of the Day

December 11 2013

Commentary by Eoin Treacy

Email of the day on Australia fibre optic rollout and Chart Library enhancements

“Thanks as always for the insightful service you and the FT Money provide.

“I recently came across this article and thought it worthwhile sharing for your consideration to publish to the collective.

“The Rise and Fall of Australia’s $44 Billion Broadband Project Why Australia decided to abort an ambitious fiber-to-the-home plan. Here' stage link

“I appreciate all of the efforts you and the team have been putting in to resolve your issues with the new site. I look forward to seeing the developments roll out over the coming weeks/months. I would like to add a couple of requests, I use the ATR function in my trading constantly and need to search elsewhere for a reliable source, and a bigger request would be to be able to drawer and annotate the charts in my favourites. If these could be included at some point, you would save me more time and money!! 

“As a user who uses an iPad, I am excited at the possibility of a mobile app in the future. Wishing you all the very best  for the fast approaching festive season and a truly prosperous New Year."

Eoin Treacy's view

Thank you for the attached article and this email covering a number of relevant points. We have plans to roll out an App as soon as the current issues with the site are completed. This will give us the ability to host the audio directly via your smartphone or tablet and would alleviate considerable security issues with making it available via iTunes.

Annotating charts is among our top three development requests and is something a number of other subscribers have mentioned as high on their list of priorities. We aim to deliver this type of innovation not long after we have brought the service back to the standard you are accustomed to.

At the Sydney venue for The Chart Seminar in 2011, a lengthy discussion took place about the outlook for Telstra as it was chosen to be among the main lead beneficiaries of Australia’s fibre optic rollout. At the time the share was trading close to historic lows and was exhibiting base formation characteristics.

The share lost upward momentum somewhat, since posting a large downside weekly key reversal in May. It continues to find support in the region of the 200-day MA on pullbacks and will need to continue to do so if the medium-term uptrend is to continue to be given the benefit of the doubt.

More broadly, the S&P/ASX 200 has been declining for seven consecutive weeks and has returned to test the region of the 200-day MA. The 5000 area represented a resistance in 2010 and 2011 and this region should now offer support if medium-term potential for continued higher to lateral ranging is to be given the benefit of the doubt. 

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