ST1 had a mixed week; daily highlights included:An uptrend off...

ST1 had a mixed week; daily highlights included:

1. An uptrend off past support of 0.19
2. A momentary break in two-week resistance
3. A gap down on very high volume (10 times higher than all other days last week - the highest daily volume since May).

But zooming out, the weekly chart shows a continuation of the existing downtrend; if it continues to the end of next week, it may fall below the 20-week moving average. The last time the weekly candlesticks fell below the 20-week moving average was in June 2018; when that happened, ST1 began a big correction that lasted for over 6 months:



Back to the daily chart, the EMA ribbon is falling and compressing at the same time. The 20-EMA has just crept below the 50-EMA (0.222) and is about to meet the 55-EMA (at 0.22):



Price action aside, the Australian Financial Review had this to say about NBN vs. mobile broadband:

"A research paper commissioned by Vodafone has speculated that up to 35 per cent of broadband users in Australia could switch off the NBN to avoid its prices and use mobile broadband instead. If that happened it would blow a $5 billion hole in the NBN business model."