I last talk about this counter was back in 2023, it’s been months and market conditions + SingTel prices have changed however my position remains the same. Last closing price on 12 July was $2.95. The last time we saw this price was in 2020 March pandemic. SingTel prices was on the downtrend. $2.95 wasn’t even support price because $2.95 was not only broken easily but price dive further down the months. Right now, $2.95 became the resistance price instead, having tested on 11 & 12 July.
Since Jun 2024 with SingTel joint venture into developing next gen data centre in Msia, the upward trend got steeper. With the sell down of Airtel , capital recycling to unlock value from its assets and partnering with lendlease to develop Comcentre into office, Optus new A$578 million contract, these are positive news to push the price higher.
Remember the good old days, from Sep 2010 to 2020, SingTel prices hover around $3+ region. That was way before data centres & AI , 5G wasn't even there. Let's not even talk about digital banks. SingTel is clearly in a different position as of today 2024 and price should be able to match it's hey days glory
Modify on 2024-07-15 10:16
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