Bharti Airtel is in the news this week as its parent company Bharti Telecom decides to sell $1bn in stock to retire debt. Here’s Bharti Airtel’s weekly chart showing its 12-year base breakout from earlier this month. Momentum has waned a bit on the upside, but overall this structural breakout remains intact as long as prices are above 490. Both the absolute and relative trends in Bharti Airtel suggest that any short-term weakness created by this week’s news should be viewed as a buying opportunity. As long as the stock is above 490 on an absolute basis, its long-term uptrend remains intact and suggests much higher prices in the months/quarters ahead. More info in the blog post linked below.
