Chart Source:Poemsview 8th Aug 2019
Singtel just released its results today and its Q1 profit hits a 16 year low on Airtel losses and higher costs. As profits were lower so did the stock price.
Did you see our previous post just 2 weeks back. We drew that uptrend line back in July where Singtel broke which was a sign of weakness. After that it gapped down due to XD of 0.107 which brought the price down to $3.34. After Singtel went Xd it tried to recover but couldn’t climb up and followed the general market down. After releasing its results, it took a further dive to $3.22.
Singtel is currently at a support and failing to hold might see it move down to our next support level.
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