On Thursday, SPH re-test the support at $4.02 and closed at $4.03 with HIGH volume of 9.77 million shares traded.
RSI & MACD are bearish though RSI already in oversold region.
Important Resistance of SPH: $4.12
Immediate Support of SPH: $4.02
Currently prices are well below the 20/50/100/200 days MA.
Today SPH undergo heavy selling pressure triggered by the breached of support at $4.12 a few days ago. This is a bearish signal.
The support at $4.02 is expected to be very strong.
We do not suggest buying now since SPH is currently under heavy selling pressure. Wait for consolidation at the support level would be a better option.
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