Executive Summary

After months of range-bound movement, Singtel is showing clear signs of life, with momentum returning and bulls stepping back in. A fresh bullish signal from my 1GT (Pro) Indicator appeared in late January, just as the stock rebounded off the 100-day moving average—marking a key turning point. Now, prices are pressing against the $3.45–3.50 resistance zone, a level it has struggled to break for weeks.

A decisive move above this could open the path toward $3.80–4.00, bringing renewed excitement to one of Singapore’s most familiar names. Whether you're a conservative trader eyeing dips or an aggressive one watching for breakouts, this setup is one to keep on your radar. Will this be the breakout that reignites Singtel’s long-term rally? Let’s find out.

Singtel Ltd., one of Asia’s leading telecommunications groups, provides a comprehensive portfolio of services ranging from mobile and fixed-line communication to data, internet, and digital solutions.

With a strong regional footprint and digital transformation initiatives, Singtel remains a key player in driving tech innovation and connectivity across Asia-Pacific.

From a technical standpoint using my One Good Trend strategy, the longer-term trend looks positive.

The 100-day moving average (red line) remains above the 200-day moving average (blue line), and both are gradually sloping upwards, suggesting that the long-term uptrend is still intact.

In the short term, the 20-day moving average (green line) is pointing up as well, showing increasing momentum and signaling a healthy short-term uptrend.

Looking at the signals from my 1GT (Pro) Indicator, a fresh bullish signal recently appeared in early late January 2025, just as prices rebounded off the 100-day moving average.

This was an early clue that buyers were stepping back in.

Since then, prices have continued to push higher, and this bullish signal is still playing out.

Right now, Singtel is attempting to break above a key resistance at $3.45 – 3.50, which it has struggled with multiple times over the past 2 months.

A successful breakout above this level with firm price action could pave the way towards the next upside target at $3.80 – 4.00.

This would appeal to more aggressive traders who are looking for breakout entries.

For those taking a more conservative approach, any retracement back near $3.45 – 3.50 – which now acts as support – may offer a better risk-reward entry opportunity, with a stop-loss placed slightly below this level to manage downside risk.

The alignment of the bullish moving averages and the most recent 1GT signal reinforces the idea that this uptrend may still have room to run.

Overall, the setup for Singtel appears constructive, with momentum returning and trend strength confirmed across multiple timeframes.

Traders should keep a close eye on the $3.45 level and manage risk appropriately as this breakout continues to unfold.

So, how does one take a position in Singtel whereby you are able to reap more potential return to ride the uptrend further?

A search for a SingTel warrant on the Warrant Search page of warrants.com.sg (https://warrants.com.sg/tools/warrantsearch/singtel) to trade the above levels, shows that there is only one SingTel warrant EDHW that is quoted on tight spreads.

Warrant EDHW which costs SGD 0.030 while SingTel shares are trading at $3.56 has an effective gearing or leverage of 5.4 times, meaning that it would move 5.4% for every 1% move in SingTel shares.

In this screen capture taken on 1 April, this call warrant rose 20.8%, 5.4 times more than SingTel’s 3.8% gain on the same day.

Investors should note that leverage works both ways, meaning that if the price of Singtel shares were to decrease by 3.8%, the price of the same call warrant will decrease by 20.8% or 5.4 times the decrease in the Singtel shares.

To see how the warrant moves during the day and its live warrant price alongside SingTel’s share price, one can simply click into the warrant code and be taken to the Live Matrix (https://warrants.com.sg/tools/livematrix/EDHW)

To place a warrant buy order only when SingTel trades at $3.50 on the same day, use the Live Matrix to look at where the warrant is quoted at $3.50 – in this case, at SGD 0.027.

How long is your holding period if you bought the warrant at SGD 0.027?

Another tool to use is the Warrant Calculator page, found in the tab next to the Live Matrix:

Enter the target entry price of $3.50 on the stock, and you will see that the warrant bid price would be SGD 0.026.

To estimate the warrant price returns based on an exit target level of say $3.80, enter that level into the underlying price target under “Target exit variables”, and move the date to say the end of the month to observe the warrant price change.

In this case, a +8.6% increase in Singtel shares from your entry level at $3.50 to $3.80, will generate an estimated return of 46.2% in SingTel call warrant EDHW from SGD 0.026 to SGD 0.038 by the target exit date and assuming all factors remaining unchanged.

To estimate your maximum holding period, keep increasing the exit date.

Moving the date from 30 April 2025 to 4 September 2025 for example, will result in a drop of the warrant price return to only 11.5%, which barely offers any geared returns compared to SingTel’s share price return of +8.6%.

In this case, investors would therefore having a trading horizon of no more than 5 months (from 2^nd April to 4 September approximately) with a stock target price of $3.80.

The sharing on how one can take a position using warrants has been contributed by Macquarie warrants Singapore who is the issuer of these warrants listed on SGX.

About the Author - Joey Choy

Joey is Singapore’s renowned mentor on how to make an income by trading the stock market, an author and one of the most-watched, quoted and followed stock trading trainers in Singapore. Over the years, he has conducted numerous full house seminars, enriching thousands to trade more profitably. 

Joey’s come back story from a S$740k debt has been featured in the Business Times and inspired thousands in Singapore. In less than 3 years, he is highly regarded as one of the Top Tier Remisiers (Stock Brokers) and Traders, bagging numerous yearly awards like Top Trading Representative and Top CFD Achiever every year from 2014 to 2023 in Phillip Securities.

More about Joey here

Hope you have found the above content useful 😃 

If you are keen to find out more on how to be a VIP Client of mine to receive daily market updates and exclusive actionable stock ideas, you can check it out here!

Look forward to see you on the inside!

- Joey

Disclaimer and Warning
This publication is provided by Trading Impossible Pte Ltd for general information and educational purposes only. Trading Impossible Pte Ltd is NOT licensed or regulated for the provision of investment or financial advice, and we do not seek to do so.
This content has been produced by Trading Impossible Pte Ltd. Singapore Exchange Limited (“SGX”) and/or its affiliates (collectively with SGX, the “SGX Group Companies”) have not had any input into this publication and/or the content, and SGX shall not be responsible or liable for the same. This document/material is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. This document/material has been published for general circulation only. It does not address the specific investment objectives, financial situation or particular needs of any person. Advice should be sought from a financial adviser regarding the suitability of any investment product before investing or adopting any investment strategies. Use of and/or reliance on this document/material is entirely at the reader’s own risk. Trading Impossible Pte Ltd shall not be liable for any loss arising from any investment based on any perceived recommendation, forecast, or any other information contained here. Investment products are subject to significant investment risks, including the possible loss of the principal amount invested. Past performance of investment products is not indicative of their future performance. Any forecast, prediction or projection in this document/material is not necessarily indicative of the future or likely performance of the product. Examples (if any) provided are for illustrative purposes only. This document/material is not intended for distribution to, or for use by or to be acted on by any person or entity located in any jurisdiction where such distribution, use or action would be contrary to applicable laws or regulations or would subject the SGX Group Companies to any registration or licensing requirement. While each of the SGX Group Companies have taken reasonable care to ensure the accuracy and completeness of the information provided, each of the SGX Group Companies disclaims any and all guarantees, representations and warranties, expressed or implied, in relation to this document/material and shall not be responsible or liable (whether under contract, tort (including negligence) or otherwise) for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind, including without limitation loss of profit, loss of reputation and loss of opportunity) suffered or incurred by any person due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information, or arising from and/or in connection with this document/material. The information in this document/material may have been obtained via third party sources and which have not been independently verified by any SGX Group Company. No SGX Group Company endorses or shall be liable for the content of information provided by third parties (if any). The SGX Group Companies may deal in investment products in the usual course of their business, and may be on the opposite side of any trades. Each of SGX, Singapore Exchange Securities Trading Limited and Singapore Exchange Bond Trading Pte. Ltd. is an exempt financial adviser under the Financial Advisers Act (Cap. 110) of Singapore. The information in this document/material is subject to change without notice. This document/material shall not be reproduced, republished, uploaded, linked, posted, transmitted, adapted, copied, translated, modified, edited or otherwise displayed or distributed in any manner without SGX’s prior written consent. Please note that the general disclaimers and jurisdiction specific disclaimers found on SGX’s website at http://www.sgx.com/terms-use are also incorporated into and applicable to this document/material.