Singtel Gaining Strength

Singtel (Z74)
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. 

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