Monday, February 1, 2016

Singtel: Rebounded from the 3.40 support again.... price 3.52

Well, still in consolidation phase, why not make use of it….. J congrats to those who managed to lock in some for rebound last week as mentioned

Sent: Tuesday, January 26, 2016 9:52 AM
Subject: ********** Singtel: Back to 3.40 key support again on profit taking.... price 3.42
Following up from previous rebound call, we have seen Singtel rebound from the 3.40 level yesterday but as soon as it breaches the 3.50 resistance, selling pressure started to come back with profit taking again. It is now back to the 3.40 level which has held since Jan 2013 and tested several times so this would still be a rather good support for now. Those who have shorted as mentioned on rebound can consider covering some shorts near this support. Can have long positions above the 3.40 level to ride any temp rebound as long as it holds with stop loss below as trend is still negative for now with moving averages all pointing lower and prices below.

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