Singtel: Rebounded from 3.40 level as mentioned....... did you accumulate some last week on a BARGAIN?

Now at 3.53, may start to see some profit taking near 3.60 again…. Let’s see…

Sent: Tuesday, January 19, 2016 11:12 AM
Subject: ************ Singtel: Back to key support levels where we may see some bargain hunting again... price 3.45

Following up from previous rebound call, we have indeed seen Singtel rebound from the 3.45 level back to 3.60 before tracing back down again on a weaker market over the past 1 week. Low today seen at 3.45 and we can expect some really good support from the 3.40 – 3.45 level which has held since Jan 2013 for more than 3 years. Those looking to really accumulate for the longer term for any rebound back to 3.60 first can consider scaling some long positions near this supports. However, note that mid to long term trend can be negative for now with longer term moving averages still pointing lower, and a firm break down would pave the way to a new lower consolidation towards 3.25 then 3.10.  We may ride the downside if the support at 3.40 fails to hold, but other than that, any short term technical rebound above 3.40 is fine with stop loss.