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Hutchison Port Holdings Trust (HPH) saw its unit price sinking lower today to close at 86c per unit. This is almost 15% lower than its IPO price of US$1.01 per unit not too long ago.
Just like what I did with Sabana REIT when it was newly listed, I used Fibo lines to estimate where are the critical supports for HPH and 86c is where we find the 161.8% Fibo line.
If 86c breaks, we could see price hitting 81c as the next strong support using the high of US$1.02 as 0%.
At 81c, it could be too tempting to refuse even though it is denominated in US$.
Related post:
Hutchison Port Holdings Trust: A weak debut.
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2 comments:
Hi AK71
Would you be entering HPH if it hits 81c next week? it touched a low of 83c before closing at 84c last Friday..
Hi ortho,
It would depend on the other technical indicators if it should happen. I can't say what I would do now. I would wait and see. :)
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