StarHub – Hammer!

Starhub showed a Hammer in the last trading day after the recent sell down. This Hammer is also near the 61.8% Fibonacci Retracement Level which is a significant support indicates a high possibility of trend reversal. Next immediate resistance is at about $2.279 (78.6% FR level and 50D MA).

Although there is a potential trend reversal and the price will go up, but the upside potential of about 3.6% (from $2.20 to $2.28) does not look attractive to me unless I want to acquire Starhub for the quarterly dividend. Anyway, May usually is a bearish month and I will take a wait and see approach to see whether Starhub can drop below $2.00.

This Post Has 2 Comments

  1. Dou

    Now starhub is CD, once XD another sell down will happen. It really depend whether u wan to get the dividends or not

  2. Marubozu

    I don't want to chase the stock to get dividend. Will wait for a low price to enter for both potential capital gain and dividend.

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