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Just take my analysis as a pinch of salt. During the Jul 09 period, there is speculation or fake break out which bring Singtel price to $3.5x and after that, the price has been push down all the way to $2.8x on Nov 09. MACD, RSI and Stochastic also show a good buying opportunity. That is the point where I accumulate Singtel shares for long term. I am not afraid of losing any money, as I am targetting at dividends.
Based on my analysis, my target sell price for Singtel is $4. I am seeing a strong resistance at $3.5x. If it never reaches $4, I will just hold it to collect dividends for the next few years. Please note that I am using TA to position myself for long term investing and not to predict the direction of the market.
1 comment:
surprised to see u use TA. =D
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