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 3.78, it is prudent to observe whether this level can withstand any further downward pressure.
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Straits Times has tested the resistance of 3356.71 but failed to clear it. It is important to monitor the price volume action near this 3356.71 level to determine whether a breakout will take place.
Commentary Based on Daily Chart (17 Sep 2014)
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