StarHub closed at $2.04 with a long opening marubozu candle (bullish candle) today after reported 3rd quarter result and raised its quarterly dividend from 4.5 cents to 5 cents, implied a Dividend Yield of 9.8%. The increase in quarterly dividend comes as a surprise because there is a concern over StarHub’s ability to sustain its earning and cash flow on its recent loss of BPL (Barclay Premier League) broadcasting right.
StarHub stock charts broke up the 20D MA and currently testing the 50D MA resistance at $2.04 with a spike in volume. The stock price is still below 200D MA. Immediate support is at $2.01.
Summary of Analysts’ Rating on StarHub: