What a gory correction. After delivering a set of disappointing quarterly results that saw Singtel clocking the seventh consecutive quarter of declining profits, Singtel share price tumbled from a high of $3.55 in July to a low of $3.12 on 27 September. The 12% correction would have caused long-term investors to panic. Question now is: where would Singtel share price go from here?
On 2 July 2019, I highlighted that Singtel share price would be entering a dark chapter but is still considered an excellent investment for the long run due to the telco’s massive regional presence. Thus, investors should stay calm despite Singapore share price volatility. To make money out of this counter, investors should set the appropriate entry price.
Based on the current form, it seems that Singtel share price is likely to continue its bearish streak. Perhaps this could be a sign of things to