Singtel is testing support, potential bounce Hey guys! hope you had a good Christmas break! I maintain a bullish view on $SingTel(Z74.SI) here. For me, price is testing support where we could see a bounce here. What are your thoughts on this?
SSSingapore Telecommunications Ltd.
2.6470EURD
−0.0030−0.11%
At close at 19:43 GMT
EUR
No trades
SIT4 trade ideas
Singtel Z74 on 60 degrees cycle ... next turning point on Dec 14Singtel has been turning on 60 degrees cycle .. next is expected on Dec 14. It has made a higher low on daily chart as in early December, Singtel has worn digital banking licence from the Sg government so this should propel the shares higher.
There is a also a clear double bottom from Nov 2008.
Singtel - Z74 - is the worst priced in?From every view it seems the worst is priced in. It is a different matter whether that is yet come or not. We focus on price actions to make long term investment decisions. Things to note:
1. Dividend Yield as on date : 5.8%
2. Can the company fail? -- Not possible as its a Singapore Blue Chip. Anyone who knows Singapore Market/ economy will not even think about this.
3. Will it continue to pay dividends : History states it will. Remember as a GLC , its one of the revenue sources to shareholders.
I am not putting any SL on this.
As such, there is no reason not buy/invest in it when the banks only pay 0.1% on your savings.
SingTel is testing support, wait for break above trend line firsPrice is sitting on a key support level and a break above the trend line could provide the bullish confirmation, currently I am keeping a close watch on how prices play out and would not consider any long positions before the break of the descending trend line
Singtel looking to SING?I know ... The title sound corny. Spotted this chart as I went through the whole spectrum of charts in the market. Vol spiked on break out yesterday. It has broken up the downward trendline. DMI + crossing above. EMA 8 crossing above EMA 13. It is a worthwhile short term technical trade in my opinion for a target closer to 3.
Where is SingTel Heading ?Was chatting with an old friend and guess where we worked together last time ? No points for guessing.
Harmonic Patterns we originally created based on the studies on Stock prices. So yes it does work on Stocks & Indices too
I see two possibilities:
1. Bounce off the ABCD pattern at $3.00
2. Head slightly lower to complete the Bullish Crab Pattern at $2.84, confluence at the horizontal support
