Following up from previous blog post on Singtel >> http://singaporetradinginsights.blogspot.com/2018/07/singtel-breaking-down-again-as.html
We have indeed seen some short covering near 3.00 after the heavy sell down from 3.30…
See the target that was hit after a month as seen below before the buyers FINALLY came back..
Target to 3.00 and that was where the buyers regained their ground…
Buyers started to come back near 3.00 as mentioned to cover some shorts and we have seen a pretty decent rebound ever since…
We also had an EXIT on the Bearish signal on our system…
We were back to the 3.30 resistance last week where it could go either way…
Would want to see more bullish price actions from here to see the reversal continue to probably 3.40 first…… seems like more strength continuing today with the 3.30 level breached…
Want to be alerted to counters like these where downside targets were drawn even before it plays out and then the reversal happened…
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