SingTel Poised for Short-Term Gains, Sideways Movement in Medium-Term

Lim & Tan Securities | April 7, 2025

Bullish Short-Term Outlook for SingTel

According to the technical analysis by Lim & Tan Securities, the share price of SingTel is forecasted to be bullish in the short-term, over the next one to two weeks. The research team thus recommends a BUY rating on the stock.

The report notes that SingTel’s share price has moved up by 3 cents since the previous technical charting report on March 14, 2025, despite a 7.4% drop from its recent peak of \$3.64 on April 4, 2025. The MACD chart is currently emitting a positive signal, with the MACD line crossing above the signal line during late March, indicating bullish momentum. Additionally, the Relative Strength Index (RSI) is trading at 46, suggesting ample room for further appreciation before the stock reaches overbought territory.

Short-Term Price Targets and Support Levels

For the near-term, the research team sees the share price upside for SingTel being capped at the \$3.52 resistance mark, which corresponds to a technical gap observed on April 7, 2025. On the downside, support is identified at the \$3.27 level, as outlined by the trend low on March 11, 2025, which could limit any further short-term downside.

Sideways Movement in the Medium-Term

Looking at the weekly chart, the research team expects SingTel to trade in a sideways range in the medium-term, with resistance at \$3.62 and support at \$3.20.

Bullish Long-Term Outlook

The monthly chart analysis suggests a bullish long-term outlook for SingTel, with resistance at \$3.87 and support at \$3.10.

Conclusion

In summary, the Lim & Tan Securities research team maintains a BUY rating on SingTel, with a bullish short-term outlook and a sideways medium-term trend, followed by a bullish long-term trajectory for the stock.