SPH: A floor or a base?

Remembering the recent lesson learnt from FSL Trust, I should not anticipate but wait for clearer signs of basing or a reversal before adding to my long positions.  It would seem that SPH is basing with $3.68 as a many times tested support.  However, we cannot be sure until price stays above the 20dMA and confirms the MA as support.  This is a stringent requirement.  $3.68 might just be a floor.

That the MACD has made a bullish crossover with the signal line is not persuasive as it is still in negative territory which means what we see might just be a rebound before price continues to move lower.  As MFI moves up, the share price has stayed more or less stagnant, testing the support at $3.68.  This is not a good sign.  I see immediate resistance at $3.80 in case of a continuing move in price upwards while immediate support remains at $3.68.