SPH had a good run last week as the stock I believed attracted traders to buy ahead of the results. However, something bad happened. This week, whatever gains that was made last week was given back to the market as the stock encountered heavy sellers because they posted a 26% dropped in 2Q earnings. I was thinking why did the run was so strong before the results was released. It could be shortists doing short covering or maybe is just touched a demand zone where buyers thought that the price was cheap and started to buy up the shares again. Whatever it is, SPH is a slow stock and it pay wise to trade this counter carefully.
https://www.theedgesingapore.com/sph-posts-26-fall-2q-earnings-297-mil-lower-revenue-higher-costs
Ronald K -
Market Psychologist -
A Stock Market Opportunist
