Friday, February 26, 2016

Singtel: Rebounding from the 3.60 level as per call yesterday..... back to 3.80 again?

Now at 3.69, seeing huge buyers at 3.70 though….

Sent: Thursday, February 25, 2016 9:20 AM
Subject: *************** Singtel: Rebounding from the 3.60 level which seems to hold as support.... price 3.65
Following up from previous call, we have seen Singtel traded back to the 3.60 support level today after some profit taking as mentioned above the 3.75 level. We are seeing huge resistance at 3.80 at the moment which has been holding for more than 2 weeks already. 3.60 also coincides with the 20 day MA line so it may again stage a technical rebound from this level, those looking for a quick rebound can scales some long positions near 3.60 with stop loss at 3.57. However, if it breaks down, one can expect some weakness back to 3.50 then 3.40 where those who want to accumulate again for the longer term can do so again.

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