SPH seems to have broken below the 9 months uptrend support, 20D and 50D MA support with a spike in volume. Below chart plotted base on Fibonacci Level on uptrend since Mar 2009.
Looking at from another perspective in a longer term view (Fibonacci Level on down trend since Dec 2008), SPH is unable to break the $3.859 resistance level.
- Base on two different perspective, critical support level for SPH is between $3.565 (50% Fibonacci Level on 2nd chart) to $3.597 (61.8% Fibonacci Level on 1st chart, gray color). I simplify it to $3.58 as a critical level to watch.
- Next critical support is between $3.271 (61.8% Fibonacci Level on 2nd chart) to $3.352 (61.8% Fibonacci Level on 1st chart, blue color). I simplify it to $3.31 as a critical level to watch.
- SPH closing price for today is $3.74.