Singtel hit a low of 3.72 today… let’s see if the 3.70 holds now….
Sent: Monday, August 31, 2015 10:24 AM
Subject: ********** Singtel: Trading back to support at 3.77 where it rebounded from last week, cautious but opportunity to accumulate on dips on more weakness, price 3.78
Subject: ********** Singtel: Trading back to support at 3.77 where it rebounded from last week, cautious but opportunity to accumulate on dips on more weakness, price 3.78
From previous call, we have indeed seen some more downside in Singtel before a rebound last week to 3.95. Singtel has been trading above the 3.76 – 3.77 support level for about a week now and still treading dangerously above it with resistance capped at 3.95 for now. Any clearing below this 3.75 – 3.76 can see more weakness towards 3.70 then 3.60. 20 DAY ma line still surging downwards with momentum still negative. Those who already already taken profit on any slight rebound can consider accumulating on dips near 3.60 then 3.40 for the longer term and strong dividend yield above 4% if the support fails to hold again.
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