Singtel: A move above 3.80, is the selling really over? price 3.82

Following up from yesterday’s call, we have seen the 3.80 clear today....

This can be an end to the downside and maybe even a reversal but more confirmation required.

Staying above 3.80 would be good for long positions now.... let’s see.

Glad that some had managed to catch the rebound from 3.60 earlier when notified

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Recent Email:

Sent: Tuesday, November 29, 2016 3:12 PM
Subject: ******* Singtel: Rebounded back to 3.80 level, but may still be weak below, price 3.79

Following up from previous call, we have indeed seen a rebound for Singtel from the key 3.60 level over the past few days. It is now back to the key resistance at 3.80 where it had originally broken down from. Starting to see some selling from here again. Only a clear move above 3.80 can see the upwards reversal continue, but take note that it can also retrace back lower to 3.60 if 3.75 temp support were to breakdown again. Shorter trend remains weak for now as long as 3.80 is a cap. We shall see.

For illustration purpose only