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Wednesday, 18 April 2018

Singtel Technical Analysis: 18 April 2018, Wednesday, 10.00pm Singapore Time

Singtel Technical Analysis: 
18 April 2018, Wednesday, 10.00pm Singapore Time
(Click on Technical Chart above to Expand)

Attached is the technicals for Singtel, a telecommunications company listed in Singapore. The red lines show where increased selling, high volume unloads and desperate dumps occurred for the past 2 years. The increased sellings resulted in prices breaking down 3.56 region which was not a surprise, because the selling signs had been there. This accompanied with desperate dumps as shown by the 2 red arrows pointing to the selling volumes on chart. Singtel has a big rounding top -- a large bearish structure. It is currently suppressed by the moving average bands, like a lid covered over a boiling frog which is about to get cooked even more in my judgement. Supports keep breaking, resistances keep holding. Bearishness of Singtel in a bull market means shorting this stock makes a good hedge for one's longs portfolio.


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