Dumped at RM1.35 on Friday. I was wrong about the possibility of a brief rebound, even a dead cat bounce. Trading between RM1.34 and RM1.35 now, looks like STAR is heading south.

STAR's fundamentals remain weak and TA Securities' analysis of 21 Nov 2017 forecasts it's target price as RM1, whilst other analysts elsewhere forecast a TP of around RM1.60 or even RM1.80.

http://www.bursamalaysia.com/market/listed-companies/list-of-companies/plc-profile.html?stock_code=6084

Anyway, the price looks like it could go through a short rebound, which would be an opportunity for traders but be careful.

The major problem which has affected news media (print, web-based and/or digital) is that whilst print circulation and readership is moving to web-based and/or digital, however the rate of growth of web-based and digital advertising revenue has been found to be between one tenth and one eighth of the rate of decline in print advertising revenue, which is a dilemma and an unsustainable situation for news media in the United States.

http://itsheiss.blogspot.my/2015/03/more-on-slow-but-steady-decline-of.html

http://itsheiss.blogspot.my/2014/06/us-newspaper-ad-revenue-continues-to.html

http://itsheiss.blogspot.my/2014/07/mobile-advertising-market-soars-but-do.html

Whilst this trend impacted news media in the US earlier on, it is now impacting Malaysia which recently had 2.7 million fixed broadband subscribers and 28 million mobile broadband subscribers as of Q3 2016.

https://www.malaysianwireless.com/2017/01/mcmc-malaysia-telecommunications-3q16/

Even Singapore Press Holdings has recently announced a retrenchment of staff.

http://itsheiss.blogspot.my/2017/10/media-content-everywhere-but-wheres.html

http://itsheiss.blogspot.my/2017/10/free-malaysia-today-seems-to-think-that.html

The sale of its stake in Cityneon was a shot in the arm for STAR this quarter but unless STAR can find another profitable revenue stream, I'm afraid the "Titanic" will continue to slowly settle lower and lower in the water and eventually below the waves unless MCA keeps pumping money in to keep STAR afloat.

Yesterday, 21 November was quite a roller coaster for STAR with its price opening up at RM1.42 from its close at RM1.37 the previous Friday, hitting an intra-day high of RM1.44, then closing down back to square one at RM1.37.

However, today it opened 1 sen up at RM1.38 and has held at that price for most of the morning with people buying at the seller's price of RM1.38 since 11:00:17 am and even after 2:30 pm. Bidders also outnumber sellers overall, so it looks like buying pressure has come in. So it looks like STAR's share price is on a rebound but once again be alert to any signs of downtrend which may occur.

I bought at RM1.37 and am watching STAR closely and will throw if there are any signs that the expected rebound falters.

Still at RM1.38 as of 14:52:52