Price Peak Show Up After Denies Optus Sales' RumorPrice in 5 mins shows unreasonable price & volume formed. Despite high volume traded intraday, but the stock price stays within the range. This could mean the "Jedi" are holding the price up while churning volume to looks good to the public.
From our analysis, we find these price movement a price peak & a possible short term retrace is building up. Which going for a short DLC, $Singtel 5xShortSG241218(DVZW.SI) will make more sense for us.
This is just our short term view based on our analysis. You might like to share your view with us in the comment too! MAY THE FORCE BE WITH US!
About our analysis :
Utilizing the dynamic insights from a 5-minute chart. By closely examining this timeframe, we dissect the intricate volume and price transactions of significant market players. Our aim is to identify short-term support and resistance levels, enabling informed trading decisions. Through this meticulous analysis, we decipher price patterns and trends, providing valuable guidance for traders navigating the fast-paced realm of stock trading.
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The information provided in this post is for informational purposes only and should not be considered as financial or investment advice. Any action you take upon the information in this post is strictly at your own risk. We are not responsible for any losses or damages that may occur in connection with the use of this information. Always do your own research and consult with a qualified financial advisor before making any investment decisions. The views and opinions expressed in this post are those of the author and do not necessarily reflect the official policy or position of any other agency, organization, employer, or company.
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Singtel
Watch for break above resistanceWatch for break of resistance point of 2.6, look for daily close above.
Tomorrow opening above 2.6 would be good for some upside moves provided it closes green.
Alternatively a downward move is also possible, all depends on tomorrow opening. a retest of lows of 2.3 or trendline is possible.
19 May is earnings date, could be a catalyst for a rebound should it test lows or a continuation or either direction.
Looking for similar pattern as Keppel Corp BN4
Target: previous highs of 2.85-2.86
Midterm Bullish on SingtelMidterm bullish on Singtel. Looks like an under and over on weekly. Reclaimed range low and it looks like it wants to tag range high.
Here are the bullish scenarios:
1) Tag and reclaim range high and move higher.
2) Tag range high, reject and range. (Most likely scenario)
There is a bearish scenario where price loses range low again and go lower. So far looks low probability.
Singtel Z74 on 60 degrees cycle ... next turning point on Dec 14Singtel has been turning on 60 degrees cycle .. next is expected on Dec 14. It has made a higher low on daily chart as in early December, Singtel has worn digital banking licence from the Sg government so this should propel the shares higher.
There is a also a clear double bottom from Nov 2008.
Singtel - Z74 - is the worst priced in?From every view it seems the worst is priced in. It is a different matter whether that is yet come or not. We focus on price actions to make long term investment decisions. Things to note:
1. Dividend Yield as on date : 5.8%
2. Can the company fail? -- Not possible as its a Singapore Blue Chip. Anyone who knows Singapore Market/ economy will not even think about this.
3. Will it continue to pay dividends : History states it will. Remember as a GLC , its one of the revenue sources to shareholders.
I am not putting any SL on this.
As such, there is no reason not buy/invest in it when the banks only pay 0.1% on your savings.
SingTel is testing support, wait for break above trend line firsPrice is sitting on a key support level and a break above the trend line could provide the bullish confirmation, currently I am keeping a close watch on how prices play out and would not consider any long positions before the break of the descending trend line
Singtel looking to SING?I know ... The title sound corny. Spotted this chart as I went through the whole spectrum of charts in the market. Vol spiked on break out yesterday. It has broken up the downward trendline. DMI + crossing above. EMA 8 crossing above EMA 13. It is a worthwhile short term technical trade in my opinion for a target closer to 3.
Where is SingTel Heading ?Was chatting with an old friend and guess where we worked together last time ? No points for guessing.
Harmonic Patterns we originally created based on the studies on Stock prices. So yes it does work on Stocks & Indices too
I see two possibilities:
1. Bounce off the ABCD pattern at $3.00
2. Head slightly lower to complete the Bullish Crab Pattern at $2.84, confluence at the horizontal support