The support and resistance level of SingTel are 3.81 and 4 respectively. It is observed that the MACD line of SingTel is above the centreline indicating some degree of strength in the price movement.
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Technically, it is not looking good for Straits Times 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 3200.63, it is prudent to observe whether this level can withstand any further downward pressure.
Commentary Based on Daily Chart (19 Dec 2014)
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