MACD and RSI showing signs of oversold
Waiting for upward trend to 2.96 for stock to pass EMA before buying
Recent trade war and new competition from TPM in telco may cause further volatility.
Recommend not to long, sell to lock in profits
Singtel stock after breaking upward sloping trend line retest it and falling from that level.
To continue bullish stance stock need to close above 3.12. Else below 3.05 can slide further to test previous low where new possible down move as per volume depends.
SGX:Z74 Singtel is currently in a falling channel.
If you are keen to short, ATH to ATL Fib retracements at 0.618 and 0.768 targets highlighted in green boxes.
We might have a slight bounce at $3.04 and if so, target between $3.17 to $3.25.
