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SingTel ST: short term rebound
Trading Central | 2016-12-13 02:59:00

Our preference: short term rebound.

3.7 is our pivot point.

Our preference:short term rebound.

Alternative scenario: below 3.7, expect 3.59 and 3.52.

Comment: the RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the share stands above its 20 day MA (3.74) but below its 50 day MA (3.82).

Supports and resistances:
4.14 **
4.08 *
4.01 **
3.95
3.78 last
3.74
3.7 **
3.59 *
3.52 **

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