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.

Healthway Medical: More upside?

Healthway Medical overcame resistance at 17.5c today to close at 18.5c but not before touching a high of 19c.  Volume expanded significantly today. 19.5c could be tested next as the bearish divergence between price and volume was corrected three sessions ago.  MACD is rising in positive territory.  MFI and OBV are rising in tandem with the rise in price. 

Although I believe that Healthway Medical's fundamentals do not command the high share price we are seeing now, the market does not care about fundamentals.  Price is about market sentiments.

Related post:
Healthway Medical: A weak first quarter.
Healthway Medical: An updated valuation.