StarHub (T54) - Look for a Star - A Falling Star

StarHub (T54) looks attractive to me now. Last 2 day’s decline of more than 18 cents (8%) provides good entry opportunity. Its 61.8% retractment from its last peak was $1.97; which already been passed now. I really don’t know what was the reason for the drop, and if it is the M2 World & the Internet TV matters, certainly StarHub has been over punished. In fact, the recent Budget announcement should on contrary benefited StarHub most. Anyway, the downside is surely limited to $1.84 which coincided with the 100% retractment; meaning this figure added significance to it as a support level.
The strategy would be risky as we are fishing for the unknown bottom, but as I said the limited downside may warrant the risk taken. Again, the oversold condition seem too good to be missed. To dip toes in the water, we can do a small accumulation first, wait and see, then decide to average up or be a patient sitter for a small baby. Why? If not, you may be surprised when the up shoot do arrive, it comes so fast that the brain and hands are too slow in comparison