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SingTel ST: the RSI is oversold
Trading Central | 2018-02-13 01:18:00

The configuration is negative.

Our pivot point is at 3.43.

Our preference: the downside prevails as long as 3.43 is resistance.

Alternative scenario: above 3.43, look for 3.49 and 3.52.

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 share stands below its 20 and 50 day MA (respectively at 3.52 and 3.6). SingTel is currently trading near its 52 week low at 3.36 reached on 09/02/18.

Supports and resistances:
3.52 **
3.49 *
3.43 **
3.41
3.38 (SGD-last)
3.3
3.26 **
3.23 *
3.2 **

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