It has been some time since we visit the three local telco stocks. In an environment marked by a fourth telco, how are the three telco stocks performing now?
Since M1 stock price broke below its 200-Day Moving Average in Sep 2016, its stock price has been on a decline. It since hit a support of $1.92 and rebounded off this support to close at $2.13 on 13 Apr 2017.
Singtel stock broke below its 200-Day Moving Average in Nov 2016 and has since rose above the 200-Day Moving Average in Jan 2017; however on 12 Apr 2017, Singtel stock broke below the 200-Day Moving Average yet again with a further decline of more than 1% on 13 Apr 2017. There could be further downside for this stock.
Last but not least, Starhub stock, which like the two aforementioned stock is also below its 200-Day Moving Average price. …