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but regardless of why it is happening,it still is,and in my experience,even though you are with a so called blue chip stock,you just don't know what could happen in this current very uncertain market.
Oh I don't *know* what is going to happen in this uncertain market, that is something I fully acknowledge Kizame. But long term SKC are the succesful bidders for the only casino licence in Auckland, and hold the only casino licence in South Australia and in the Northern Territory. So long term, in 8-10 years I am absolutely as certain as I can be that Sky City will still be a leading casino operator. The long term future is IMO nowhere near as uncertain as you think it might be Kizame. And as for the short term future, well if you can afford to hold through the short term uncertainty, enjoying those fat dividend cheques along the way of course, then who cares?
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The fact you mention support points, lends me to thinking that you do follow some TA, so if that's the case (and I am presuming here) why not wait till you see the stock start a new confirmed uptrend,the best of both worlds,and your divi yield overall will be greater,having purchased all the shares at the cheaper price. Sorry but school of hard knocks has taught me well.
TA practitioners don't tend to worry about the 'whys' of support points. But these high dividend paying shares do compete with term deposits as a source of income. So IMO the gross dividend yield *is* a highly important figure. Generally I would expect a high quality income earning share like SKC to trade at a couple of yield points above the six month and twelve month bank term deposits. SKC is trading at more than *four* yield points higher than the bank deposit rates. That means there is a pretty big margin of safety in the SKC share price verses term deposits. And that logic applies whether the SKC share price is trending either upwards or downwards.