I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Thursday, 11 April 2019
Singtel Gaining Strength
Singtel has been on Mark Down since July 2017 and frequently used as a downtrend example during my Technical Analysis workshops or seminar.
However, five trading days ago, Singtel broke out from its multi months downtrend line declassifying itself as a marking down (downtrend) stock.
Its bullish for a weak stock to exit its downtrend especially with all the negative news surrounding it such as downgrades and outlook cut by rating agencies, S&P and Moody's.
We have a bullish bias on Singtel with 1st TP at S$3.20 and 2nd TP at S$3.37.
We alerted our community this morning at S$3.11, currently Singtel is trading at S$3.17.