SingTel Downtrend since Jul 2016

A symmetrical triangles recently emerge from Singtel chart.  Symmetrical triangles can be bullish or bearish depending on whether it break up or down.

Singtel stock price had been descending since July 2016 due to new entrant (M1, StarHub, TPG Telecom, MyRepublic and Circle Life) into the local telco market.  More competitors means more competitive pricing and less profits.  

Every stock price up and down have its fundamental reasons, so don't overlook the importance before you even trade stocks.

Notes: Stock Technical Analysis is based on past pattern and probability, not a call for you to trade.  Do Your Own Due Diligent (DYODD).

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