hydros
2022-04-22

$SINGTEL(Z74.SI)$

After being stuck in a 2 year consolidation range, Singtel has finally broke above the $2.58 resistance zone. It is now supported by the short term uptrend line and  the $2.58 zone, which has now turned support.  

There's much news on Singtel lately, the notable ones include:

- Acquisition of IT services consulting company Dialog Pty Ltd

- Acquisition of Australia Telco Infrastructure provider Axicom for A$3.6bil by Singtel's ATN

- Acquisition of Australian digital services company ARQ for A$290mil by Singtel's NCS

- Grab-Singtel among favorites to bag Malaysia's first digital banking license

- Redevelopment of Comcenter HQ for over $2bil

Singtel is forging ahead with its growth path and reopening of air travel means its data roaming revenue will recover.  Research houses UOB KH and Maybank have target prices of $2.90 and $2.98 respectively. Any retracement back to the $2.47 region would be an attractive buying zone for me.

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Comments

  • Dazza7
    2022-04-24
    Dazza7
    Things looking up i hope
    • hydros: 
      Hope so too. Regulatory action will be bad.
  • Ah_Meng
    2022-04-23
    Ah_Meng
    how do you draw the trend line in this app? I do not even know how to change the time frame to look at the trend here. Can share?
    • Ah_MengReplyhydros: 
      [Cool] will try that
    • hydros: 
      There's a little 4 square box on the left of the timeframe row.click on it and you will see many options to draw trendlines.
  • Bonta
    2022-04-22
    Bonta
    Hope can finally stop sinking. Been holding for years. [Facepalm]
    • hydros: 
      Yes. Finally light at the end of the tunnel. Hope the new CEO can do a better job than his predecessor.
  • YNWIM
    2022-04-22
    YNWIM
    So do you have any shares in Singtel? I tend to buy some shares from my pocket money. Haha.
    • hydros: 
      Yes. I took profit for my trading position on Singtel previously.  However,  i still have Singtel shares in my core holdings.
  • May168
    2022-04-23
    May168
    Once it reaches 3...I will sell....but I doubt it
    • hydros: 
      still have a some way to go to reach $3. There's probably some resistance at the 2.80s region.
  • hd87
    2022-04-22
    hd87
    Thanks for sharing. Hope someone can help me like this comment :)
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