Potential trade brewing in Singtel

by Michael Gable

SGT is showing a similar chart pattern to PPT which has recently broken out and already started rallying. That is, after bouncing sharply from a recent low on good volume, it is now just congesting back on next to no volume. This suggests that at some point it could break out to the upside and then recommence the move up to retest it’s recent high – just as PPT now appears to be doing. It is still early to jump on board yet, hence my “neutral” recommendation, but traders need to keep an eye on it day by day. If we get a move up out of the top of the blue diagonal line on decent volume, then traders can follow it.


Disclaimer: Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.

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