Saturday, June 3, 2017


Singtel stockSingtel 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 stocks for their track record of decent dividends but in today’s era where the landscape is more competitive, traditionally defensive telecom stocks are less so in my opinion hence there is also the other half of potential capital appreciation to note of for investors. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.

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