Technical Pulse: Singapore Telecommunication Ltd January 21, 2021 868

Singtel Ltd (SGX: Z74) has made another attempt to rally towards $2.50 and technical indicate that the stock will make another rally:

 

  1. The formation of the potential cup and handle indicate a strong possibility of a bullish reversal once prices break the resistance zone at $2.64-$2.69.
  2. The morning star alike formation indicate a possible shortfall, as such, the upside rally will confirm once prices breaks the psychological $2.50 resistance level.
  3. The Tenkan-sen and Kijun-Sen has indicated a bullish cross over followed by the chikou-span above the candles. To add on, the Senkou-span A has turned upward, indicating a strong bullish upside going forward.

 

*Timeline of the trade is 4 weeks from the date issued.

*Should prices fails to sustain the breakout above $2.50, then the possibility of prices testing the lower support zone at $2.00-$2.04 will increase.

 

DLCs product information

Investors are advised to read the issuer documents found on SGX website here or the issuer’s DLC website here for the full details of the DLCs including the product features and the risks before investing in the DLCs.

 

CHART LEGENDS

Ichimoku Kinko Hyo

Red dotted line = 9 Periods Tenkan-Sen

Blue dotted line = 26 periods Kijun-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging l

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