Technically, it is not looking good for SingTel as its 20-Day Moving Average is sloping downward and its price action is below the Moving Average line. Though the price found support at the level of 3.85, it is prudent to observe whether this level can withstand any further downward pressure.
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The support and resistance level of STI are 3234.06 and 3387.84 respectively. It is observed that the MACD line of STI is above the centreline indicating some degree of strength in the price movement.
Commentary Based on Daily Chart (19 Aug 2014)
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