SingTel appears to be trading inside a symmetrical triangle formation since Jul 2009 and looks about time for the breakout from the symmetrical triangle formation. A breaking out from price level between $3.20 - $3.24 with volume should validate the symmetrical triangle formation. An estimated price target for breaking out of the symmetrical triangle formation would be somewhere between $4.12 to $4.16 level. However if price level drops out of the lower portion of trend line, that would void the symmetrical triangle formation. The apex of the symmetrical triangle appears to be at $3.20 and from the chart, it will converge around May 2010 and that would be a period of 10 months for the symmetrical triangle to be fully formed. In achieving the potential target of $4.12 - $4.16 ( breaking out of the symmetrical triangle formation ), the time frame could be between 6 months to 12 months.
Note, a breakout between $3.20 - $3.24 with expanding volume is potentially a symmetrical triangle breakout with a potential target of $4.12 - $4.16. A break outside of the lower trend line will void the symmetrical triangle formation.
