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SingTel ST: the downside prevails as long as 3.75 is resistance
Trading Central | 2016-12-27 00:00:00

The configuration is negative.

Our pivot point stands at 3.75.

Our preference:the downside prevails as long as 3.75 is resistance.

Alternative scenario: above 3.75, look for 3.84 and 3.9.

Comment: the RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 3.74 and 3.79).

Supports and resistances:
3.9 **
3.84 *
3.75 **
3.71
3.65 last
3.51
3.45 **
3.4 *
3.34 **

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