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[CU]

SingTel [2010-03-03] - $3.08

The small double-bottom back in Nov~Dec '09 turned out to be an important support. An initial penetration below 2.98 neckline found a quick recovery the following day. Subsequently a bullish pennant was build (small green converging line) and stock looks set to continue its current rising trend. Note that the light blue highlighted circle represent a potential bullish H&S Bottom Reversal with neckline resist right at today's closing of 3.08

In conclusion, the giant telco looks set to re-test 3.16 sell-down resist back in early-Jan. Perhaps with good enough volume (preferably above 40mil shares), stock could further achieve 3.26 H&S Bottom Reversal target objective

Resist - 3.16 | 3.26
Support - 2.98
Validity - 2 weeks or upon breaking of support/resist

Chart created with ChartNexus charting software

[CU]

Bingo! Stock rise to 3.20 , about 3.5% gain completed

Cheers!

[CU]

SingTel [2010-03-16] - $3.18

Stock rebounded off double support trendline as shown on increased volume. That's quite a good sign. Looks like stock is going to challenge the next target of 3.26 last mentioned

Resist - 3.26~3.30
Support - 3.12
Validity - 2 weeks or upon breaking of support/resist

Chart created with ChartNexus charting software

[HC]

Singtel (2010-03-19 Closing price 3.25)

Sing Tel has now come to an area where multiple resistance coincides, and a small 5 waves structure seen.  Be defensive.

[HC]

Singtel (2010-04-08 Closing price 3.15)

After hitting a high of 3.29, Sing Tel broke the up trend line.  Immediate support back at 3.07+-.