SPH

SPH - 16th June 2016

SPH after hitting the high of 4.16 on 25th April 2016 it had since drifted lower to touch 3.77 on 16th June 2016. This is rather bearish.

The current price of 3.76 is hovering below the SMA lines which is generally rather negative.

Also both the Macd & Rsi are pointing downwards which may be a tell tale sign that the share price may continue to trend lower.

Short term wise looks like it may go down to re-visit the recent low of 3.65 on 25th Feb 2016. Breaking down of 3.65 with high volume that may drive the share price to fall further towards 3.51 the next support level .

Looks like market sentiment is rather bearish which is being clouded by the pending Brexit voting on next week that may likely create a very volatile situation for the market.
I think is okay to stay sideline pending the voting result.


(trade base on your own decision)