Stocks with Momentum: ST Engineering and SingTel

January 15, 2024

In today’s fast-paced stock market, understanding the subtle cues of technical analysis is key to smart investing.

In this article, we focus on two notable SGX companies: Singapore Technologies Engineering Ltd (SGX: S63) and Singapore Telecommunications Limited (SGX: Z74). ST Engineering’s stock shows a robust and intact uptrend, signaling steady growth potential. Meanwhile, SingTel’s stock movement suggests a rising likelihood of continued upward momentum, indicating an optimistic outlook for the company’s share price.

Here is a look at some of the key highlights of the technical report.

1. Singapore Technologies Engineering Ltd (ST Engineering)

  • Current Market Position: ST Engineering, with a last price of S$3.88, maintains a bullish uptrend.
  • Investment Details: Entry prices are set at S$3.88, S$3.80, and S$3.70. Support levels are at S$3.77 and S$3.57, with a stop loss at S$3.59. Resistance levels are at S$3.98 and S$4.21.
  • Target Prices: The target prices are S$3.98, S$4.10, S$4.14, and S$4.18.
  • Company Overview: ST Engineering is a global technology, defense, and engineering group, offering solutions across aerospace, smart city, defense, and public security segments.

For more detailed analysis, click on link to access to report.

2. Singapore Telecommunications Limited (SingTel)

  • Current Market Position: SingTel exhibits an increased probability of a continued upside, with an entry price at S$2.41, S$2.34, and S$2.30.
  • Investment Details: Supports are at S$2.31 and S$2.24, with a stop loss at S$2.21. Resistance levels are S$2.49 and S$2.68.
  • Target Prices: Target prices are projected at S$2.51, S$2.65, S$2.74, and S$2.82.
  • Company Overview: SingTel provides wireless telecommunication services globally, including fixed mobile data, internet, TV, and digital solutions.

For more detailed analysis, click on link to access to report.

Take advantage of the stock momentum

Our goal is simple: to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re a seasoned investor or just starting out, our analysis is designed to help you navigate the market with confidence.

Disclaimer in the report attached

Billy Toh

Billy is deeply committed to making investment accessible and understandable to everyone, a principle that drives his engagement with the capital markets and his long-term investment strategies. He is currently the Head of Content & Investment Lead for Prosperus and a SGX Academy Trainer. His extensive experience spans roles as an economist at RHB Investment Bank, focusing on the Thailand and Philippines markets, and as a financial journalist at The Edge Malaysia. Additionally, his background includes valuable time spent in an asset management firm. Outside of finance, Billy enjoys meaningful conversations over coffee, keeps fit as a fitness enthusiast, and has a keen interest in technology.

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