Singtel: Has hit our 1st Target at 4.30, now at 4.32

More upside towards 4.50 ? Congrats to clients who manage to accumulate on dips last week J

Sent: Friday, June 12, 2015 10:05 AM
Subject: ******* Singtel: Breakout spotted above the 4.20 psychological resistance, poised for a recovery, price 4.22

Following up from previous accumulate calls, today we have indeed seen Singtel break above the critical 4.20 psychological resistance level that it has consolidated below for more than 2 weeks. At current levels, it has also crossed above the 20 day SHORT TERM MA line and this can lead to a short term trend reversal too. A bullish reversal piercing candlestick bar spotted last week and more confirmation above 4.20 seen. AS LONG as 4.20 holds as the new support now, we are short term bullish with a  recovery expected to 4.30 then 4.50. Macd indicators looks oversold after the recent sell down and looks ripe for a reversal too and a bullish crossover which can lead the momentum with stochastic indicator showing more room for the rebound rally.