The 20-Day and 50-Day Moving Averages of SingTel are sloping upward. This signifies that the price momentum is up, however as of 4 March 2015 the price is trading below the 20-Day Moving Average. For SingTel to continue its uptrend, it will need to move back above the 20-Day Moving Average. An important level to watch out is 4.16 which is the immediate support. A breakout of this level may compromise the current upward price movement.
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Straits Times has tested the resistance of 3458.14 but failed to clear it. It is important to monitor the price volume action near this 3458.14 level to determine whether a breakout will take place.
Commentary Based on Daily Chart (04 Mar 2015)
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