Lim & Tan Securities

16 April 2025

SingTel: Technical Analysis Points to Bullish Short-Term Outlook

Executive Summary: Bullish Recommendation for SingTel

Based on technical analysis, SingTel is forecasted to exhibit a bullish price direction in the short-term (one to two weeks). A “BUY” recommendation is issued accordingly. [[1]]

Recap of Previous Analysis

• SingTel’s share price has increased by approximately 6.5% since the previous technical charting report issued on 07-Apr-25. [[1]]
• The prior report noted a positive price trend, even after a drop from a recent peak of \$3.64. [[1]]

Bollinger Band Analysis: Signifying Bullish Trend

• The Bollinger Bands (purple lines in Exhibit 1) show both the upper and lower bands moving upwards. [[1]]
• This movement indicates a bullish trend for SingTel, suggesting further potential upside. [[1]]

MACD Chart: Positive Signal Emerges

• The MACD chart is emitting a positive signal for SingTel’s share price. [[1]]
• A bullish crossover has occurred, with the MACD line (blue) crossing above the signal line (orange) from below earlier this week (Exhibit 1). [[1]]

Near-Term Price Targets: Resistance and Support Levels

• Resistance: The near-term upside for SingTel is capped at the \$3.76 resistance mark. This level corresponds to the trend high during Dec-2017. [[1]]
• Support: Should the price momentum turn negative, support is expected at the \$3.49 level, representing the daily low on 14-Apr-25. This level could limit further downside in the short-term. [[1]]

Technical Indicators and Outlook

Short-Term

• Trend: Bullish [[1]]
• Last Done: S\$3.59 [[1]]
• Resistance: S\$3.76 [[1]]
• Support: S\$3.49 [[1]]

Medium-Term

• Trend: Sideways [[1]]
• Resistance: S\$3.87 [[1]]
• Support: S\$3.38 [[1]]

Long-Term

• Trend: Bullish [[1]]
• Resistance: S\$4.10 [[1]]
• Support: S\$3.28 [[1]]

Exhibits

• Exhibit 1: SingTel – Daily Chart Since Nov 2024 (Bullish In The Short-Term) [[1]]
• Exhibit 2: SingTel – Weekly Chart Since 2016 (Sideways In The Medium-Term) [[2]]
• Exhibit 3: SingTel – Monthly Chart Since 2011 (Bullish In The Long-Term) [[2]]

Company Information

• Company: LIM & TAN SECURITIES [[1]]
• Address: 16 COLLYER QUAY #15-00 INCOME AT RAFFLES SINGAPORE 049318 [[1]]
• TEL: 65330595 [[1]]
• Website: www.limtan.com.sg [[1]]
• RCB REG NO. 197301030W [[1]]

Research Disclaimer

This report is exclusively for clients of Lim & Tan Securities Pte Ltd (LTS). Reproduction, duplication, storage, redistribution, or dissemination of this document, in whole or in part, without prior consent from LTS is strictly prohibited. [[3]]

This research report is intended for general circulation and does not consider the specific investment objectives, financial situation, or particular needs of any individual recipient. Investors should independently evaluate investments and consult with their financial advisor before making any decisions related to the securities or investment instruments mentioned in this report. [[3]]

The information, tools, and materials presented in this report are not intended for distribution to or use by any person or entity in any jurisdiction where such distribution, publication, availability, or use would violate applicable laws or regulations or subject LTS to registration or licensing requirements within that jurisdiction. [[3]]

The information and opinions presented in this research report have been obtained or derived from sources believed by LTS to be reliable. However, LTS does not guarantee their accuracy, completeness, or correctness. Opinions and views expressed in this report are subject to change without notice and should not be construed as an offer or solicitation to buy or sell securities, futures, options, or other financial instruments, or to provide investment advice or services. LTS accepts no liability for any loss arising from the use of the material presented in this report where permitted by law and/or regulation. LTS may have issued other reports that are inconsistent with the assumptions, views, and analytical methods of the analysts who prepared them. [[3]]-[[4]]

LTS, its directors, connected persons, and employees may, from time to time, hold positions in any of the securities mentioned or referred to in this report or any securities related thereto, and may add to or dispose of such securities. [[4]]-[[5]]

Analyst Disclosure

As of the date of this report, the research analysts primarily responsible for the content of this research report do have a financial interest in SingTel as recommended in this report. [[5]]