Technical charting analysis: TLS shares have been trending nicely since our last report breaking past $4.00 per share, although the $4.00 mark looks to be a key trading level
and initial support is building here. If TLS shares were to sell off further, we see the next level of support at $3.80, which should limit downside risk. Given solid updates we
believe over the medium-term Telstra has room to run higher.