TEL currently on resistance

TEL touched the 50% fibo line at 2,826 which acts as a resistance. If you observe the last candlestick, it shows a bearish sign. TEL has been very strong last week because of its upcoming dividend this March 13, 2014 which will give the stockholders a total of 116 pesos. Whoa that's big!

The question is will the 'dividend play' breaks the resistance at 50% fibo line or will it retrace because of resistance?

With RSI currently at 68 near overbought, it may retrace to 2,766 which acts as the immediate support and can go up to 3,080 which is the 100% of the fibo line.

Last Friday, TEL is still on NFB (Net Foreign Buy).