I get the feeling that recent negative press about the Australian film industry, the popularity of recent US hits (Lost, Desperate Housewives ...), and the impact this might have on SBC has been depressing the share price. Potentially more downside to, but the following looks good to me:
* dividend yield around 5.4% fully franked * potential takeover target due to open share register (I recall reading some time back a break up value of I believe $17) * On a 10 year chart the $12 mark looks like an area of support * Relative Strength Index (which I think is often an accurate story teller) is low at around 30 on a 20 day time period. Getting very close to oversold levels. Last time around here was back when price was $11 back in May 05. RSI hit about 15 before peaking at around 70 just before the share price peaked
In short, I am not in yet but have it on my current watch list for goo buying.
MJS
SBC Price at posting:
0.0¢ Sentiment: Hold Disclosure: Not Held
