A reader saw my technical analysis (TA) for ComfortDelgro and asked if I did the same for SingTel?
“Please share your TA for SingTel.”
OK, I don’t do TA on request anymore but since I am in the process of building a larger stake in SingTel, here is a quick TA on SingTel:
Since going XD, SingTel saw its share price plunging but I don’t think this has anything to do with its business fundamentals which do not seem to have deteriorated enough to warrant the huge decline in price.
If the fundamentals at $3.79 a share are the same as the fundamentals at $3.58 a share, logically, what should someone who was buying at $3.79 do now?
Having said that, price movement is sentiment driven most of the time and this is what we call “volatility“…