StarHub – Big sell down!

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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