On 2 Jan 2010, I mentioned in a post that I'm in no hurry to accumulate more SPH shares at current prices. On SPH's weekly chart, the declining 200wMA provides resistance at $3.80 and I would like to divest partially if its price moves to touch the 200wMA. Unfortunately, this did not happen. For a recap on what I said then, please see Rethinking SPH.
Today, SPH's price action on the daily chart formed a wickless black candle which crashed through both 20dMA and 50dMA before stopping at the rising 100dMA at $3.60 which happens to coincide with a 61.8% Fibo line. If the price breaks through the 100dMA, the 50% Fibo line provides support at $3.52. This happens to be a many times tested candlestick support and resistance level. A stronger support would be at $3.45. Rising 200dMA should limit further downside at $3.30.
MACD is poised to do a bearish crossover. MFI has formed a lower high indicating a lack of buying momentum. OBV has been declining steadily which shows distribution.
I like SPH for reasons stated in the earlier post. The current technical weakness might just present opportunities to accumulate SPH shares and I would do so at a price closer to $3.52. In the event that this support breaks, I would buy more at $3.45. For anyone who has yet to own any SPH shares and would like to do so, a hedge at $3.60 is not unthinkable as nothing is for sure. Remember that this would be a hedge. Don't break your piggy bank.
PRIVACY POLICY
Featured blog.
1M50 CPF millionaire in 2021!
Ever since the CPFB introduced a colorful pie chart of our CPF savings a few years ago, I would look forward to mine every year like a teena...
Past blog posts now load week by week. The old style created a problem for some as the system would load 50 blog posts each time. Hope the new style is better. Search archives in box below.
Archives
Pageviews since Dec'09
Recent Comments
Get this Recent Comments Widget
ASSI's Guest bloggers
- boon sun (1)
- Elsie (1)
- Elvin H. Liang (1)
- ENZA (3)
- EY (7)
- FunShine (5)
- Invest Apprentice (2)
- Jean (1)
- JK (2)
- Kai Xiang (1)
- Kenji FX (2)
- Klein (2)
- LS (2)
- Matt (3)
- Matthew Seah (18)
- Mike (6)
- Ms. Y (2)
- Raymond Ng (1)
- Ryan (1)
- Serejouir (1)
- skipper (1)
- Solace (13)
- Song StoneCold (2)
- STE (9)
- TheMinimalist (4)
- Vic (1)
Resources & Blogs.
- 5WAVES
- AlpacaInvestments
- Bf Gf Money Blog
- Bully the Bear
- Cheaponana
- Clueless Punter
- Consumer Alerts
- Dividend simpleton
- Financial Freedom
- Forever Financial Freedom
- GH Chua Investments
- Help your own money.
- Ideas on investing in SG.
- Invest Properly Leh
- Investment Moats
- Investopedia
- JK Fund
- MoneySense (MAS)
- Next Insight
- Oddball teen's mind.
- Propwise.sg - Property
- Scg8866t Stockinvesting
- SG Man of Leisure
- SG Young Investment
- Sillyinvestor.
- SimplyJesMe
- Singapore Exchange
- Singapore IPOs
- STE's Investing Journey
- STI - Stocks Info
- T.U.B. Investing
- The Sleepy Devil
- The Tale of Azrael
- TheFinance
- Turtle Investor
- UOB Gold & Silver
- Wealth Buch
- Wealth Journey
- What's behind the numbers?
SPH - A chance to accumulate?
Thursday, January 7, 2010Posted by AK71 at 8:32 PM
Labels:
high yields,
SPH,
TA
Subscribe to:
Post Comments (Atom)
Monthly Popular Blog Posts
-
In recent times, I have found it much easier to talk to myself on YouTube. It is faster than blogging. This explains the greater number of v...
-
Another quarter has gone by and it is time for another update. For a change, I will reveal the numbers first. 3Q 2024 passive income: $85.2...
-
It has been more than a week since my last blog post. Things have settled into a new normal for me. In this new normal, my expenses have inc...
-
I produced a YouTube video yesterday after someone alerted me to buy some bank stocks. I thought the stock market had crashed. Did not look ...
-
One thing I have blogged about on and off over the years is how things could go wrong. Bad things happen. Very often, they happen without wa...
All time ASSI most popular!
-
A reader pointed me to a thread in HWZ Forum which discussed about my CPF savings being more than $800K. He wanted to clarify certain que...
-
The plan was to blog about this together with my quarterly passive income report (4Q 2018) but I decided to take some time off from Neverwin...
-
Reader says... AK sifu.. Wah next year MA up to 57200... Excited siah.. Can top up again to get tax relief. Can I ask u if the i...
-
It has been a pretty long break since my last blog. I have also been spending a lot less time engaging readers both in my blog and on Face...
-
I thought of not blogging about my 2Q 2020 passive income till a couple of weeks later because Mod 19 of Neverwinter, Avernus, just went liv...
2 comments:
How do think the results on 13Jan will be like and what will be the impact on the share price in the short term?
I expect SPH's advertising revenue to improve and rental income from Paragon to remain robust. Fundamentally, SPH is trading at a PE of about 14x which compares favourably with SingTel and SingPost. SPH's yield is however much higher than SingTel and SingPost which makes it a high yielding blue chip of choice for me. :)
Post a Comment