Singapore Post... Battle of Email and Snailmail

Something weird is happening to Singapore Post! It is losing momentum at a rapid rate and looks like on the verge of collapsing below the support line @1.14 that is holding it... There are lots of reason to explain the price. My thought is money is moving away from defensive stock and into riskier assets; in other words risk appetite is growing! Further, I'm wondering if the business model can sustain as more stuff are going electronic nowadays! Just my 2 cents...

On the chart, price is forming a descending triangle pattern. For the last 2 trading days, there are heavy volume and the base support seems to give way to this selling assault! And price is below the long term moving average and inner momentum is weakening. For short, it is wise to play conservatively because STI seems to be on a bull run. When overall market is strong, the odds of going in the opposite direction drops even though the counter may be weak. Be cautious...

Happy profiting!!!