Singtel stock recently went to a low of around $3.70 in May 2017 ever since the support of $3.88 was broken. It seemed that Singtel stock managed to find support at $3.70 level as its stock price inched slowly up to close at $3.81 today. As an added boost of confidence, Singtel CEO, Ms Chua Sock Koong bought 355,740 Singtel shares on 1 June 2017.
Should Singtel stock continue to retrace up, I believe the previous support of $3.88 is easily attainable. The consensus target price of Singtel on SGX website is $4.22, which implies a potential upside of 10.8%. While investors’ radar is now trained on M1 due to the news of potential acquisition, Singtel stock movement also does merit some interest.
I am not currently vested in Singtel stock or any other telecom stocks. Some investors buy and hold these telecom ......