Starhub

Starhub nov 2016
Starhub nov 2016

Our telcos took a heavy beating recently when news our the 4th telco will be coming online next year.

Starhub after selling down on tuesday had an exceptionally high vol and selling didn’t continue today .Could it be a climatic sell and some rebound in sight? Well, resistance is at 2.82 and if that breaks possible to cover gap to 2.90 and maybe even to 2.95. Cut loss would be at 2.71 below the horizontal support.

Yours

Humbly

Telcos: M1, Starhub,Singtel

Mobile data price wars are erupting due to the entry of the fourth telco more can be found in the link below from the straits times.

http://www.straitstimes.com/tech/mobile-data-price-war-erupts-m1-halves-prices-following-singtels-lead

With that we decided to cover the charts for our three local telcos.

First starting with M1

M1 Mar 2016
M1 Mar 2016

Of the three telcos we found this the most interesting. M1, instead of closing down today it actually closed above its opening price.WOW, that shows us some strength when its suppose to be down due to all the price wars which will potentially eat into the telco’s profit. From chart wise, M1 seems to suggest that there might be further upside, with it breaking its downtrend line but does face some resistance at 2.64 if it clears that we might see a nice upside to 2.74 first then 2.87 our cut loss will be at 2.50.

Next up, Starhub

Starhub Mar 2016
Starhub Mar 2016

It close down as expected and as u can see is ranging and sitting on its horizontal support of 3.35. If it goes below that we might see more downside to even 3.25 area. We are looking at more downside for Starhub

Last but not Least, Singtel

Singtel Mar 2016
Singtel Mar 2016

We can see that currently its touching its downtrend line and coming down and we do foresee more downside for Singtel to the horizontal support of 3.70  first then we will plan again.

Yours

Humbly