Singtel’s recent net loss of $668M is founded on Airtel’s performance as shown in the consolidated summary above from Q3 reports. That is to say that their method of diversification has not worked so well at this point in time. However their overall net profit rose 4% when excluding Airtel which is still a remarkable quarter in general. Should expect a sell down in the coming days and here is how I would plan my entry.

Near term outlook (Using Weekly Chart)

In near term or rather immediate outlook, Singtel will be testing 3.25 (Fibo), 3.16 and 3.1. If the decline is fast, it might test beyond 3.1 to lower territory. The way I would count on is the volume of trade in a day. If the volume exceeds 20mil for Singtel, then it would signal a oversold situation on that day.

Zoom in View

It is quite comforting for Singtel to have risen in the past week to test 3.35. This shows that the market still anticipates Singtel to do fairly well in the future; however due to extenuating circumstances, Singtel’s fate is still in the hands of its oversea’s units. In conjunction with foreign currency which is hammered considerably due to the slow inflation of the US dollar.

Author’s Call

• Buy at near supports (3.25, 3.16, 3.10) for greater assurance (buy in batches if capital permits)
• Promising to buy and keep for 6.8 cents dividends (volume above 3000 shares)
• Setting Lower limit at $2.80 at the moment. (Maintained)
• Unlikely to find exit as of now
• Awaiting further news on 5G network developments