SPH: At Critical Support

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.

Leave a Reply