What to make of Sky at six-month low

Sky Plc (LSE:SKY)

We decided to give it six months before binning our Sky subscription, but the phone call has now been made, due to the change in viewing habits provoked by the Amazon Firestick.

As it's currently legal to watch "content" via Kodi (apparently only illegal if you don't install the add-on yourself or actually record programmes!) we cannot help wonder how many folk are leaving Sky.

Their share price isn't enjoying the happiest trajectory and recent movements tend to hint at the market expecting something bad around the corner - perhaps they are about to take over the "Big Brother" or "I'm a Nonentity" franchises.

For now, we're not terribly comfortable with price movements as it needs to actually close above 1,008p to escape the current threat of weakness to 919p initially with secondary, if broken, at 872p.

The long-term uptrend is currently at 788p and shown in red on the chart. Anything capable of actually breaking such a point brings 668p to the table.

Of course, there's a "however" despite our concerns over recent price moves. During 2017 the share price has effectively flatlined and it's not too much to ask for moves above 1,008p and relative sanity.

Such a scenario allows 1,095p initially with secondary, if bettered, at a longer term 1,175p.

Unfortunately, for now we've little choice but to regard it as heading to 872p. Once again, Jeremy Clarkson has a lot to answer for!

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.