Sunday, January 17, 2010

Singtel Part 2

Looking at Singtel's chart, it looks like 200MA is a sufficiently good support. In addition, 50MA has joined the fun by going parallel to the 200MA, and functions as a 2nd MA support.

Fibonnacci wise, STI bounced off the 61.8% fibo line taken between $2.86 to $3.16, and is currently at the 50% fibo line. It is also at the 50% fibo line between $1.94 to $3.52... Good support?

Plus GMMA shows signs of bouncing up, CCI and %R still low, with MACD tapering off the the bullish side.

And Singtel is also near trendline support.

Friday's selldown was also on low volume of below 50 volume MA.

Fundamentally, the Optus IPO will put lots of funds into Singtel's pocket as well. The CEO also bought in 1 million shares.

In short, Singtel has high potential and probability to become bullish with possible $3.3 to $3.5 on the higher side. I would probably load 2 more lots of Singtel with my remaining opportunity funds should Singtel stagnate around the $3 region. Shall monitor and see how it goes...

TP: $3.3


  1. Thanks for your analysis. I will probably load 2 lots too. And get to enjoy about 4.1% dividend per year.

  2. I am hyruga from CNA forum. Have been reading your blogs for 3 months=) I read blogs...dont write them.

  3. Hi Hyruga,

    thanks for visiting! Pls do not take my analysis as a recommendation ;)


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