0207 GMT - Singapore Post's recent share-price movements signal a possible bearish reversal, based on the technical chart, Phillip Securities Research's Zane Aw says in a commentary. Its share price filled a gap at S$0.550 and encountered resistance upon a retest of previous support turned resistance, the analyst says. The moving average convergence divergence indicator signals a bearish divergence with a lower high formed despite the share price posting a higher high, which supports slowing bullish momentum, the analyst says. The share price is likely to pull back to retest S$0.505, which was the horizontal support level during the October-December 2024 period, the analyst adds. Shares are 0.9% lower at S$0.540. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 08, 2025 21:07 ET (02:07 GMT)
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