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SingTel ST: the RSI is oversold
Trading Central | 2018-02-07 00:06:00

Our preference: the downside prevails as long as 3.49 is resistance.

3.49 is our pivot point.

Our preference: the downside prevails as long as 3.49 is resistance.

Alternative scenario: above 3.49, look for 3.54 and 3.57.

Comment: the RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day MA (respectively at 3.58 and 3.63). Finally, SingTel is trading below its lower daily Bollinger band (standing at 3.46). SingTel is currently trading near its 52 week low at 3.41 reached on 06/02/18.

Supports and resistances:
3.57 **
3.54 *
3.49 **
3.47
3.42 (SGD-last)
3.35
3.32 **
3.29 *
3.27 **

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