Singtel: More selling with 3.00 breaking down.. Price 2.92
Author: Trading Impossible | Joey Choy
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Just last week, we have seen the 3.00 psychological support for Singtel break down..
That level has been holding for more than 6 months but seems like buyers were not able to hold any longer..
Hence some downside targets were drawn on some bearish price actions spotted.
The selling continued over the past few days and we are now back to the 2.90 support where some short covering seen…
Normal given the sell down..
Downside targets may still be on tracked..
Downtrend has been in placed since the beginning of the year and no signs of reversal as of now…