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Tuesday, January 19, 2016

SingTel

SingTel - 19th January 2016

SingTel is on a downtrend mode as reflected on the chart. The current price of $3.50 is staying below both 14SMA & 25SMA lines which is generally quite bearish.

On 21st Dec 2015 SingTel went Ex.Dividend of 6.8 cents and closed lower at $3.67. In fact the previous day high was at $3.76 and the price has been corrected more than the declared dividend.



It had since continued to trend lower and touched $3.40 on 8th January 2016 with high volume. This is generally viewed as quite negative. Also both MACD & RSI are pointing downwards which may provide further indication that the price may continue to head lower to $3.27 then $3.12.

$3.70 is the Resistance level and $3.40 is the current support level.

If it is able to cross over $3.70 with ease then perhaps this may reverse this downtrend and head higher.

If not, Breaking down of $3.40 with high volume that may send the price further down to $3.12.
(trade base on your own decision)

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