hydros
2022-05-13

$SINGTEL(Z74.SI)$has been on a strong uptrend but formed a shooting star candle with high volume on 12 may 2022. This bearish candle with high volume suggests that big boys could be unloading. Coupled with today's big black candle, it confirms the occurrence of a short term top. Switch to the weekly chart and a shooting star candle stands out.

Fellow tigers who have enjoyed the ride may consider taking profit and buy back during a pullback. 

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Comments

  • MultiBaggers
    2022-05-16
    MultiBaggers
    Will not touch Singtel. Singapore REITS Is still the best. Ascendas, Mapletree Log, Ind and Comm, Suntec and CICT
    • hydros
      I agree that reits are best in a low interest rate environment.  However when rates increase and the delta between bond yield and reit yield is maintained, reit prices may come down.
    • hydros
      I have MIT, MLT n Cict.I have been holding off buying more.I think rising rates will put downward pressure on price as investors will demand higher yields from reits as compared to risk free gov bonds
  • adeley
    2022-05-16
    adeley
    well I bought at 3.77...
    • hydros
      Sorry to hear that. If you have held that long, might as well continue holding. no point to cut loss now. it's still a good dividend stock.
  • Yap0606
    2022-05-17
    Yap0606
    thanks for sharing😊
  • Thamos
    2022-05-17
    Thamos
    my Singtel still in the red. -.-"
  • Tanken
    2022-05-16
    Tanken
    surprise
  • AricLo
    2022-05-16
    AricLo
    ok thanks for sharing
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