SingPost after hitting the high of 1.70 on 22nd April 2016 it had since continued to drifted lower to touch 1.52 on 19th May 2016. This is generally quite bearish.
Today it has been experiencing a drastic fall from yesterday closing price of 1.56 to close lower at 1.505. This is rather negative couple with super high volume of 24.83m shares changing hand.
Short term wise looks like the similar price patterns may repeat itself again as reflected on the chart.
It may likely go down to re-visit 1.43 cents. Breaking down of 1.43 cents with high volume that may send the price further downward towards 1.30.
Fair value may surface again once it had fallen to 1.43 & below.
( trade base on your own decision)
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