• The longer term chart for SPH shows that the stock is still in a long term bear decline. In the short term, it is still trading within an uptrend channel. The stock is sitting exactly on the resistance turned support at S$3.12.
• Since the stock has risen from a low of S$2.31, investors may want to take some profits on any rally. Sell on any rebound. Resistance is seen at S$3.20-3.30 and S$3.45.
• The key support for the stock is at S$3.05-3.07. Closing below this levels are bearish for the stock as it could pullback to retest S$2.65 with S$2.80 providing some support in between.
Singapore Press Holdings Limited publishes, prints, and distributes newspapers and magazines. The Company also invests in properties, provides multimedia, broadcasting, and telecommunications services, manages shopping centers and other commercial properties, and operates Internet portal site.
Swing Media Technology (SWM SP; S$0.07) – BUY
• The stock has been rising steadily since breaking out above its long term resistance trend line in April.
• Both indicators have stayed positive, suggesting that this run still has legs. The RSI has yet to reach overbought levels, further supporting the positive view.
• Investors would be better off buying on weakness. Support is seen at S$0.06-0.065 while resistance is at S$0.09-0.10.
Swing Media Technology Group Limited is a manufacturer of data storage products. The Company manufactures video cassette housing products, compact discs (CDs), digital versatile discs (DVDs), compact disk recordables (CD-Rs) and business card CDs. Swing Media Technology trades plastic resins and packing materials as well.
Giant Wireless Technology (GWT SP; S$0.04) – BUY
• The stock appears to be testing the long term bullish wedge pattern’s upper resistance at S$0.045. Breaking out above this resistance level is bullish for the stock, with the next resistance seen at S$0.06-0.065.
• Indicators are marginally positive with the MACD widening its gap but RSI staying rather flat.
• Investors may want to accumulate on weakness. Support is seen at S$0.03-0.035.
Giant Wireless Technology Limited designs, manufactures, and markets wireless telecommunication products mainly on an original design manufacturer (ODM) basis. The Company's key products are analog and digital cordless telephones, citizen band (CB) and family radio services (FRS) radios.
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