Tuesday, January 12, 2010

Singtel TA -- almost ripe for the rebound?

Technical factors supporting:
Near 50MA and 200 MA ($3)
Near support.
Back-testing previous downtrend's resistance line...
Low %R
Low CCI, although it could get lower

Technical factors not supporting:
MACD has crossed over to negative
Stochastics still pointing downwards.

Singtel is flirting with the 50% retracement line between 2007 to 2009. Since STI is near the 61.8% level, we could see Singtel retesting the 61.8% level (touched earlier) at around $3.34...

Let's see how... I might load in another 2 lots of Singtel, depending on the price action tomorrow...

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