Big movement on the cards for Singtel?

In my opinion, this one's very straightforward. It could potentially either break-out or break down thanks to a symmetrical triangle pattern formed here. And I'm favouring a break out. Here's why:

1. Technical indicators show there's still room for up size if it happens. Bollinger bands are tightening which complements the current chart pattern.
2. STI has formed a mini inverse H&S. Singtel being a major component would stand to gain if a breakout is confirmed.
3. Q3 optimism on earnings is growing on the whole. Fundamentally, Singtel has done well for the last financial year; it should follow through for 2010 Q3.
4. Singtel is expected to pay out its $80 dividend per lot in August. Price could also potentially be pushed up in advanced.