Starhub had a last minute breakout today. The breakout was so fierce that it recorded 4.38% which is rarely and seldom seen in this stock. It also meant that some good news is coming ahead or price wouldn't have run so much. It could be because it hit a demand zone and buyers started buying or it could be because of short sellers covering their shorts. I don't know the real answer but looking at the chart, I wouldn't buy yet and I did not expect it to have such a powerful breakout today.
After market yesterday, Starhub posted a 74% drop in 4Q earnings which could meant that this breakout could be fake. I am not sure what will happen to Starhub later but there might be a chance that the stock will gap down first. The market is volatile and presents opportunities but play the right stock is equally important. I will monitor this counter at 9am. Click below to see the earning results.
https://www.theedgesingapore.com/starhub-posts-74-drop-4q-earnings-141-mil-higher-operating-expenses
Ronald K - Market Psychologist - A Stock Market Opportunist
