We written that 3.06 on Singtel is pretty significant and on Friday it reached 3.01.
On Friday, Starhub finally went down a huge 2.9% to 2.66. Both these presents good opportunity but I reckon people would wait at 2.90 for Singtel and probably much lower for Starhub.
To be honest, after market went straight down for 6-7 weeks, the chances of a snap back is rather high. Based on how oversold it is on both sets of breadth indicators and that Starhub have always been above the 200 day MA, I don’t expect both to be lower next week.
The high probability outcome is a move up. If it doesn’t happen, you guys will get your dream of accumulating these 2 telecoms at much lower prices.