Broker Name: Lim & Tan Securities
Date of Report: 19 September 2025

SingTel Stock Outlook: Bullish Momentum Signals Short-Term Buying Opportunity

Overview: Technical Analysis Signals Upside for SingTel

Singapore Telecommunications Limited (SingTel) is showing strong technical signals that point to further share price gains in the short term. As one of Singapore’s leading blue chips, SingTel’s recent price action and technical indicators suggest investors should consider a BUY position. This analysis delves into the short-, medium-, and long-term technical outlook for SingTel, highlighting key resistance and support levels, momentum indicators, and potential price targets.

Short-Term Analysis: Bullish Trend with Room for Further Appreciation

SingTel’s share price has been on an upward trajectory, notching a 6-cent gain since the previous technical update on 8 September 2025. The stock remains firmly entrenched within an uptrend channel, supported by strong momentum:

• Bollinger Bands: Both the upper and lower Bollinger Bands are trending higher, clearly indicating a bullish price channel. This suggests the share price is likely to continue moving upwards unless a significant reversal occurs.
• Relative Strength Index (RSI): The RSI currently stands at 63, which is below the overbought threshold of 70. This means there is additional headroom for the stock to climb before any significant risk of a technical pullback arises.

Key Short-Term Price Levels

• Resistance: The primary resistance in the near term is at S\$4.57, where the upper Bollinger Band is positioned. Prices may struggle to break above this level without a fresh catalyst.
• Support: Should momentum reverse, downside is likely to be contained at S\$4.31, anchored by the double daily lows seen mid-September.

Medium-Term Outlook: Sideways Consolidation Expected

While the short-term outlook remains bullish, the medium-term technical picture for SingTel is more neutral. The weekly chart since 2015 suggests the stock is trading in a sideways pattern, with clear boundaries for support and resistance:

• SingTel’s medium-term price action is characterized by consolidation between S\$4.20 and S\$4.70, with potential for a breakout if momentum gathers pace.

Long-Term Perspective: Sustained Bullish Structure

The long-term technical analysis, based on the monthly chart since 2011, remains bullish for SingTel. The share price is supported by a robust base and has the potential to trend higher over time:

• With support at S\$4.08 and resistance at S\$4.95, the long-term trend remains solidly upward, supported by the monthly technical formation.

Investment Considerations and Analyst Disclosure

• This analysis is intended to serve as a technical overview and should not be considered tailored investment advice. Investors should review their individual objectives and consult a financial advisor if necessary.
• Lim & Tan Securities, its directors, connected persons, and employees may from time to time hold positions in SingTel or related securities and may transact in these securities.
• The research analysts responsible for this report have a financial interest in SingTel, as detailed in the report’s disclosure.

Key Takeaways: SingTel Remains a Strong Contender for Upside

• Short-term technicals are bullish, with room for further appreciation before reaching overbought conditions.
• Medium-term action is expected to be range-bound between S\$4.20 and S\$4.70.
• Long-term charts signal a robust bullish outlook, with upside to S\$4.95 and support at S\$4.08.
• Critical levels to watch: S\$4.57 (short-term resistance), S\$4.31 (short-term support), S\$4.70 (medium-term resistance), S\$4.20 (medium-term support), S\$4.95 (long-term resistance), and S\$4.08 (long-term support).

Contact and Further Information

For further details and personalized advice, investors are encouraged to contact Lim & Tan Securities at +65 6533 0595 or visit their office at 16 Collyer Quay, #15-00 Income at Raffles, Singapore 049318.

Summary Table: SingTel Technical Levels

Conclusion

SingTel’s technical indicators suggest a compelling short-term opportunity for bullish investors, with supportive medium- and long-term structures in place. Investors should monitor the outlined resistance and support levels closely and consider their risk profiles before taking action.