Singapore Press Holding (SPH): The Bull is Missing!

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Base on current SPH chart, it is clear that the bull is missing. It is observed that there is a resistance  (green line) sloping downward and also a support turned resistance at about $3.95. SPH current stock price is trading very closely to the 20D/50D/200D MA, it is a danger if SPH drops below these 3 MA. I can’t say SPH will start the down trend or move sideway but one thing is clear that the upside potential is limited if any investor wants to long the stock for huge capital gain.

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SPH: At Critical Support

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SPH is just sitting above a critical support at $3.73 currently. This resistance turned support is also a 78.6% Fibonacci Retracement Level and also 200D MA.

  • If this support is strong, upside potential is 11.5%. (from $3.73 to $4.16)
  • If SPH breaks down this support level, the stock price may go to $3.392 (61.8% Fibonacci Retracement Level). Short term downside risk is 9.1%. However, breaking all three MA is never a good thing because the stock chart is bearish.

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