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I'm a Singaporean. The purpose for all my blogs is to share my life experiences in Singapore.

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Tuesday, May 25, 2010

Singtel Technical Analysis (25 May 10)


See it for yourself and make your own judgement.

Support/Resistance:
The chart has went down below major support at $3.00. The chart is forming a very big symmetric triangle and has started to break down. The major support will be at $2.50.

Indicators:
Looking at the MACD, RSI and Stochastic, there is a lack of buying momentum which means that the price may drop further.

My Target Price:
It will be a good buy @ $2.50

Please note that I am using TA to position myself for long term investing and not to predict the direction of the market.
Posted by Freedom Achiever at 9:55 PM

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