Saturday, March 29, 2008

Update on Singtel 29 March 2008




Singtel is still trading in its channel. Watch for any breaks above 4.05. I would probably only buy on a break of 4.22 if the market has indeed turned bull across worlwide indices!

In any case RSI is in overbought range for this counter. One trading idea would be to short when it hits around $4 and market indices show weakness and resumption of bear trends. But then again I just remembered one of my trading rules is NOT to short blue chips.

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