SingTel (T48) TA Wise
The 15 DMA was converging towards the 45 DMA and an inevitable cross is coming. This is a positive thing to see. The price in a form of a long white candlestick had already broken the Upper Bollinger Band thus spreading it. The MACD signal had crossed the zero line. Corroborating into the bullish territory was the MACD histogram bar, much higher than the preceding bars; telling us the spread between the two MACD lines were widening, that the positive relationship was strengthening.
Stochastics crossed and headed north for a buy signal. RSI has risen with a very steep gradient and touched 60. ADX had curled upwards with D positively placed and marched shapely north. Also the OBV showed a good tilt upwards suggesting buying volume very much stronger than selling volume.
P/s The near resistance is $2.50 and the subsequent resitance obtainable is $2.59 and that is only 50% retractment from recent peak and trough.
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