Extremely Poor Service from OpenNet and Singtel

Quick update: OpenNet is finally up on 24th December. Case Closed.

This is a rant on my utterly disappointing service by Singtel and OpenNet on their fibre optic, specifically OpenNet, the company laying the fibre optic cables and doing such a bad job on it.

The story goes...
Earlier in November, my girlfriend signed up for a fibre optic package (fibre optic internet, phone line, mio TV) from Singtel. It was installed on the last week of November. Everything was well, the internet was fast, my girlfriend's mum was very happy with the mio TV channels. Finally she have interesting channels to watch while at home.

Singtel Part 2

Looking at Singtel's chart, it looks like 200MA is a sufficiently good support. In addition, 50MA has joined the fun by going parallel to the 200MA, and functions as a 2nd MA support.

Fibonnacci wise, STI bounced off the 61.8% fibo line taken between $2.86 to $3.16, and is currently at the 50% fibo line. It is also at the 50% fibo line between $1.94 to $3.52... Good support?

Bought Singtel

Bought Singtel based on my previous TA chart.

The simple method:

If it goes up to my expected $3.30, I will sell.
If it goes down, I hold and keep for dividends.


Simple method for a simpleton.



This effectively increased my Singtel holdings to 4000 shares at an average of $2.99.

Singtel TA -- almost ripe for the rebound?

Technical factors supporting:
Near 50MA and 200 MA ($3)
Near support.
Back-testing previous downtrend's resistance line...
Low %R
Low CCI, although it could get lower


Technical factors not supporting:
MACD has crossed over to negative
Stochastics still pointing downwards.


Singtel is flirting with the 50% retracement line between 2007 to 2009. Since STI is near the 61.8% level, we could see Singtel retesting the 61.8% level (touched earlier) at around $3.34...

Let's see how... I might load in another 2 lots of Singtel, depending on the price action tomorrow...

Singtel vs Starhub

With Starhub being part of my dividend basket, I feel that it is necessary to look into the recent hoo-ha about the pay-TV competition between these two firms.

Starhub lost the rights to broadcast EPL, ESPN, STAR Sports and STAR Cricket to Singtel, who outbid Starhub for them, and this explains the plunge of Starhub from $2.16 to $1.94, which rebounded to $2 today.

This raises the question... is an oligopoly the way to go for Pay-TV market in Singapore? Competition is usually good for consumers, as we learn from basic Economics 101. However, in this case, it seems that competition might just not be good for consumers because, also from Economics, Singapore is so small that this market might be a natural monopoly.