Singapore Press Holdings (SGX: T39) is expected to trend downwards based on the following technicals:

1. The stock has been making a series of lower lows and lower highs since December last year. Indicating a continuation of severe downside pressure.
2. Bearish flag formation signifies a continuation of a potential bearish move.
3. Prices have been struggling to break above the resistance at $1.38, the previous lowest point in the year 2020.
4. Evening star formation signifies a reversal formation and the rejection of the resistance, indicating a confirmation of an imminent sell down.

*Timeline of the trade should be between 1-3 weeks from the date issued.

CHART LEGENDS

Moving average

Red dotted line = 200 periods Moving average

Blue dotted line = 50 periods Moving average