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Thursday, August 10, 2017

SPH

SPH - 10 Aug 2017

OPPORTUNITY is Surfacing..

The price seem overly beaten down for counter such as
SPH that may present some bargain hunting
opportunities.

SPH – has been on a downtrend mode from $3.78 on 25th
Oct 2016 to a low of $2.85 on 28th July. MACD is showing
sign of turning upwards. Yield of 4.8% to 5.9% looks
attractive. Reversal play opportunity.

$2.85 has been tested 2 times already over the past few trading days. Looks like it may breakdown eventually if another attempt to break through this support level.

Alternative scenario, if $2.85 is able to hold up well then we may have a good chance of see a rebound to move up to retest 2.90 then 3.00.

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