$4.20 for SPH proved to be a formidable resistance as it tested that price a few times. A break above that price will be extremely bullish as you can see a “cup-and-handle” formation. However, fundamentally, there doesn’t seemed to be any catalyst for it to do like unless it announce some “special dividends” due to its cash generated from property development? The share price looks weak in the near term and likely to weaken in the coming days. Let’s see if can break the resistance in the next upswing.
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