Straits Time Index (STI): Keep A Big Eye on The Support!

  • Post author:

Straits Time Index (STI) is just trading above a critical support at about 3,042.

Things to watch:

  1. If this previous resistance level (3,042 which is also the 200D MA support) cannot turned into support, STI will start the down trend and head towards at least the 2914 level (78.6% Fibonacci Support).
  2. Another important level to watch is 3,122 resistance which is also the neckline of the complicated Head and Shoulders pattern. If STI cannot break this resistance and bounces down, the chances of breaking the 200D MA support is extremely high.

One thing for sure base on the chart pattern, Bull is still enjoying the Chinese New Year and not back to work yet!

Continue ReadingStraits Time Index (STI): Keep A Big Eye on The Support!

Comparison of Singapore Telco Companies Stocks

  • Post author:

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.

Continue ReadingComparison of Singapore Telco Companies Stocks