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. For a turnaround to occur, the price needs to decisively break the resistance of 3.9 which has resisted any recent upward movement. The indicator analysis on RSI is not exhibiting any extreme condition. Watch out for the 30% and 70% levels which indicate any oversold and overbought condition respectively.
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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. In addition, the price is trading near its resistance of 2884.03. The RSI indicator is giving a reading in the oversold region. While this is expected given the recent bearish movement, it also gives a warning that the current movement may not be extended especially given that the resistance of 2884.03 is broken.
Commentary Based on Daily Chart (01 Dec 2015)
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