StarHub – Big sell down!

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StarHub had big sell down with huge volume for two days and closed at $2.00 as StarHub lost its bid on English Premier League rights for 2010-2013 seasons to SingTel. The stock price broke 200D MA support line and $2.01 level (38.2% Fibonacci Retracement level).

The stock price may move further down as StarHub’s future earnings will be affected. Will continue to monitor this after shock effect of StarHub stock price and have no hurry to enter the trade until StarHub’s management give a new guidance in the coming quarterly earning briefing. StarHub dividend will probably be affected as well.

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Two key challenges in stock investing

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After trading stocks or investing stocks for few months, I conclude that there are two key challenges to overcome to be successful, ie.
1. Need to have patient to WAIT.
I have made mistakes that I have no patient to keep my original plan to stay out of the market until the major correction is over. I was to too eager to enter the trade two weeks ago after I saw the stocks under my watchlist meet my entry targets. Now, my money is stucked in those stocks while the market has started the correction these few days.
2. Control the emotion (basically Greed and Fear).
Sometimes the Greed and Fear overrule my rationale and take over my original trading plan. Some stocks were sold too soon due to fear and lesser profit made; some stocks were bought too early (worried that I may miss the uptrend) and my money got stucked as the stock price moved south or sideway.
I have to overcome these two challenges otherwise I will never be successful in making consistent money in the stock market regardless how good I am picking a good stock, doing a great analysis and developing a superb trading plan.
“Good plan is as good as none if I do not execute the plan with good discipline.”
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Raffles Education – Down Trend started!

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Raffles Education closed at $0.49 with another bearish candle today. It looks like the down trend is starting soon. All other technical indicators showed weaknesses:

  • Stock price below 20D, 50D and 200D MA.
  • Stock price below the Parabolic SAR line.
  • Stock price at lower Bollinger Band.
  • MACD is becoming bearish convergence.
  • RSI is moving down.
  • Stochastic is bearish and at oversold region.

Immediate support at $0.485 and next support is $0.45.
I am staying out this stock until I see a trend reversal.

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