After hitting 2.83 low at the bottom line of downtrend channel (mid term chart), Singtel has been rebounding to near the upper line of the downtrend channel. 3.36 marked the 11-months high.
To break up the downtrend channel, first level to watch in short term (about a month) is 3.4. We are watching if downtrend channel will be successfully broken up. If not successful, suggest to take profit around 3.3-3.4.
To break up the downtrend channel, first level to watch in short term (about a month) is 3.4. We are watching if downtrend channel will be successfully broken up. If not successful, suggest to take profit around 3.3-3.4.
Mid term chart (Source: Poems Mercury live chart) TA view for illustration purpose only |