Drop TKC, Time to Move on

Turkcell Iletisim Hizmetleri AS (TKC) was featured in this blog on 7/18/08 (at 15.85)and again on 8/4/09 (at 16.60); since then,the stock has hovered around these prices and is now showing what could be a "head and shoulders" chart pattern. I am inclined to say that, in the near future, the stock is headed down.

For the period of time we held TKC, we collected an anualized dividend of about 4.7%,
and see a profit of 4.79%. Selling today at 16.61, it may be time to move out of this position.
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More Comments About TKC

On July 18, 2008 I wrote about Turkcell Ilet (TKC), since then we have seen a gain of 4.3% (in addition to the 4.9% dividend). I would say it has given us a decent return considering the market behavior over the past year.

Motley Fool just posted an article about TKC:

http://www.fool.com/investing/international/2009/08/04/5-star-stocks-poised-to-pop-turkcell.aspx

It appears that this stock has legs and may continue to realize gains in the near foreseeable future.
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TKC Could be Forming a Base

Turkcell Ilet (TKC) has been losing ground since its highs of late November '07. After a sizeable drop in value, the stock may be hovering around a short-term support at 15.

Turkcell Iletisim Hizmetleri A.S. engages in establishing and operating Global System for Mobile Communications network in Turkey. The company provides mobile telecommunication services, including mobile voice and data services over its GSM network. Its voice services include wireless telephone services on a prepaid and postpaid basis.

Few of the attractive signs are:

• Volume at approximately 1.35 million average shares/day
• P/E is less than 9
• A dividend of 3.8% (paid yearly)
• Current price at 47% below the 52 week high
• Fund ownership has been increasing during the past 4 quarters
• Earnings have risen consistently since '01

Trading today at 15.85, I would consider TKC a buy candidate at around these levels.

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