Merger with Vodafone ???
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I did think Fellet was a being a bit dismissive when talking to NBR about the vodafone merger.....
https://www.nzx.com/companies/SKT/announcements/283667
Chart is not looking the best..
Not drawn in on the chart is the primary downtrend line..The 5.49 high point on 5 May before the gap down happened to nearly touch that primary downtrend line adding confirmation of a continuing downtrend (bear cycle) for SKT
http://i458.photobucket.com/albums/q...2007062016.png
Below is a live 15 minute chart show the last 5 days of trading
Something happened yesterday lunchtime (see large candlestick bar)..I personally call this activity a P wave as reference to a first tremor before an earthquake..it was under low volume however so its suspect...but it did happened... so.. did some small investor have insider knowledge?...also... it broke the EMA 50 period (750 minutes)..a bearish technical action..
Between 1 and 2pm the shareprice pullback to meet the price break occurred but could not break back up ...resulting in larger volume selling breaking the EMA 100 period (1500 minutes) at 3.00pm..A candlestick hammer after 4pm suggests someone thought SKT had fallen too far and bought in...
From the chart, it seems a rumour was out in the marketplace after 2pm yesterday.
http://bigcharts.marketwatch.com/kaa...045&mocktick=1
SKY Network Television Limited – Vodafone Discussions..
https://nzx.com/companies/SKT/announcements/283667
Sudden price 5.5% drop by SPK this morning.
Maybe Spark involved here?
More likely that SPK shareholders are worried that a Vodafone\Sky merger would present meaningful competition on the entertainment\streaming front.