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SPH: Time to utilise my CPF OA?

Thursday, March 17, 2011

As a rule, I am very careful with my CPF money and first utilised the money in my CPF OA during the global financial crisis some two years ago. I used the money almost exclusively for the purchase of shares in SPH which is my favourite blue chip for its high yield.

I have divested all the shares bought using the money in my CPF OA as the market ran up last year. So, for some time now, my CPF OA has been 100% cash waiting for another opportunity to buy shares of strong blue chip companies again. Of course, I am keeping an eye on SPH.


SPH's share price has been retreating and in the last three sessions, trading volume was rather high. Technically, it looks very weak as the MACD completed a bearish crossover with the signal line in negative territory and the 20dMA completed a bearish crossover with the 200dMA.


If we look at the weekly chart, the longer term 100wMA has turned up some time back and is rising nicely. With price action having broken the support provided by the 50wMA, I would look to the 100wMA for support. For now, I like $3.60 as that is where we find the 161.8% golden ratio as well as the rising 100wMA.

It seems that the time to use my CPF OA to buy some shares of SPH could be drawing near.

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