SingTel (T48) - To buy or to sell?
SingTel (T48) is getting beautiful again! With a slowly buildup of volume (3)after the drying off, T48 is all geared up! It would'nt take much effort to discern all the upward momentum these few days. Support was very strong at $2.60, which was not tested yet. I’ve been observing its price behavior and it was undulating at $2.63. Last Friday was a clean and positive break away from it and closed at $2.65. When this is breached the next resistance is $2.70. Once this is broken, and based on exploiting its previous trend against the RH X axis (1), it rest nicely at $2.82. This can be taken as the TP. Confidence of Singtel always buildup around dividend day which is drawing near. This somehow props the upward price movement!
In sum, the brave grasp without confirmation, the conservative one would want to wait and see the neckline (2) of $2.67 broken first before plunge in!. Of course I've my choice, you can have yours too!
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