SingPost after hitting the high of 1.685 on 22nd April 2016 it had since drifting lower to touch 1.555 on 29th April. This is generally rather negative.
The Gap down on 29th April at 1.59 and closed lower at 1.57 + couple with quite a high volume signify weakness. The immediate support is at 1.56. Breading down of 1.56 will be rather bearish.
Macd indicator is showing sign of a negative divergence which may be a tell tale sign that the share price may continue to trend lower.
Short term wise we may have to monitor how the price movement is going to be.
A breaking down of 1.56 with high volume that may continue to drive the share price lower towards 1.50 then 1.43 with extension to 1.32.
(trade base on your own decision)
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