Analysts are looking at the potential dividend payout to support the shares. Citi Investment Research expects a 9.9% dividend yield for FY2009, Kim Eng expects a prospective 7.5% dividend yield in FY 2009. DBS and OCBC are forecasting dividend yields of 8% and 7.1% respectively. For more information please refer to The Edge Investment Weekly.
The technical picture for SPH is not looking good. It broke the $3.00 support level on 13 Jan 09 and closed at $2.73 on Friday.
The Fibonacci objective point indicates a target price of $2.72 so the stock may stage a rebound from this level.
However, looking at the MACD charts and ADX charts, any rebound will be simply be a technical rebound and traders who are still holding on to their long positions will try to liquidate their holdings to limit their losses.
The technical picture for SPH is not looking good. It broke the $3.00 support level on 13 Jan 09 and closed at $2.73 on Friday.
The Fibonacci objective point indicates a target price of $2.72 so the stock may stage a rebound from this level.
However, looking at the MACD charts and ADX charts, any rebound will be simply be a technical rebound and traders who are still holding on to their long positions will try to liquidate their holdings to limit their losses.
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