Sky Network Television Limited (SKT.NZX)

10 September 2018

Technical Summary: The 5 year chart on the right is a good illustration of the fundamental challenges that SKT has been facing. The stock has moved from the top right of the page to the bottom left in a textbook downtrend. Zooming in on the one year chart however paints a different picture. It can be argued that the stock is range bound and has largely moved sideways. It can also be argued that the the trend has continued as the three major highs on the chart have all occured at lower points. The stock itself it currently trading at support and has potential for a mean reversion play. Asides from that there is no upward trend to get behind for followers so there is no reason to buy unless you are doing it for fundamental or valuation reasons.

Stock trading at support or continuation of downtrend

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