With a lot of people actively “scolding” SMRT for the last few months, it has been tumbling badly. Normally a public transports counter usually behaved more like sideway movements as the income are “predictable”, but even with the increase fares, SMRT just could not find any reasons for investors to buy-in the story to push it higher. Next critical support would be the psychological and classical support of $1.00. If not, it will be a weak fibonacci support of 0.895.
For those using value investine, maybe this is now “value” and has been “value” for quite some time already. I say maybe hor, so don’t flame me as I don’t use FA. But for TA traders, the sign of uptrend is at least a higher low which is nowhere to be seen for now. For TA-wise, 0.895 is considered “cheap” since it is a company that is impossible to be “suspended” unless someone wants to privatize it.
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