SingTel: Capped by Declining Trend Line

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Expect more down side for SingTel as the stock is currently capped by the Declining Trend Line Resistance. A short selling position has higher probability of winning. Favorable Reward Risk Ratio with target price of $3.43 which is a very strong support tested past 5 occasions.

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SingTel Feb22-2016

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Singapore Telecom (SingTel): Break Neckline of Head and Shoulders Pattern

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Singapore Telecom (SingTel) broke the Neckline of a complicated Head and Shoulders Pattern at $3.04. The price target of this breakdown is at least $2.875 or below. Take note that SingTel has started the down trend as the stock is currently trading below 20D, 50D and 200D MA. Singtel has also broken the 61.8% Fibonacci Support at about $3.00. Bear is clearly in charge in this SingTel stock chart for the time being.

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Comparison of Singapore Telco Companies Stocks

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PE ratio and Dividend Yield comparison for SingTel, StarHub and M1.

SingTel Chart

Head and Shoulders formation for SingTel stock chart, currently SingTel is testing the neckline at about $3.08 which is also a  78.6% Fibonacci Support Level. Breaking down this neckline with huge volume with confirm the pattern and may send SingTel to the price target of $2.83.

StarHub Chart

StarHub is currently testing the uptrend support at around $2.62 (also 50D MA support) to $2.65 (78.6% Fibonacci Support). Breaking these support levels indicate the end of up trend.

M1 Chart

M1 is trading at  5 years high. Although the chart still shows the uptrend but M1 is closing to the next 138.2% Fibonacci Resistance at about $2.413. Uptrend support is at about $2.274.

In summary

Upside potential (for capital gain) are limited  for SingTel, StarHub and M1 base on PE ratio comparison and chart patterns. Dividend yields are still attractive at current stock price.

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