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SingTel (Z74)
Chart Analysis
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. This is further compounded by the recent bearish breakout of the support level of 3.16. This breakout was accompanied by a higher than average traded volume which shows the bearishness of the traders to push the price lower and past this support hence pointing to a higher probability of a bearish breakout.
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Market Outlook
Market Outlook Chart
Technically, it is not looking good for STI as its 20-Day Moving Average is sloping downward and its price action is below the Moving Average line. For a turnaround to occur, the price needs to decisively break the resistance of 3338.96 which has resisted any recent upward movement. The RSI indicator is giving a reading in the oversold region. This may indicate the price decline may be over-extended. However the price and volume action at the 3338.96 resistance level is to be monitored carefully.
Commentary Based on Daily Chart (22 Jun 2018)
ChartNexus Team
Volume Movers
Pri: 0.050
P%: -3.8%
Vol: 95,580,800
Noble Grp
Pri: 0.162
P%: -2.4%
Vol: 70,869,800
Pri: 0.004
P%: 0.0%
Vol: 55,339,500
Pri: 0.022
P%: 4.8%
Vol: 84,143,800
Pri: 0.022
P%: 4.8%
Vol: 84,143,800
Pri: 0.001
P%: 0.0%
Vol: 56,204,400

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