Technical Pulse: Jardine Cycle & Carriage Ltd January 22, 2020 637


Jardine Cycle & Carriage (SGX: C07) bearish decline will resume after a period of consolidation based on the technicals:

  1. Head and shoulder formation is a potential bearish continuation.
  2. On the right shoulder, there appears to be a potential bearish flag formation, which signifies a strong bearish downside.
  3. The right shoulder shows a multiple of candles rejecting 38.2% of the Fibonacci retracement level. Of which, the bearish pin bar and the evening star is the key prominent candlestick reversal pattern
  4. Death cross is still valid as prices are trending below the 200 SMA.


*Timeline of the trade should be between 1-3 weeks from the date issued.



Blue dotted line = 50 Periods Moving Average

Red dotted line = 200 Periods Moving Average

Notify of
Inline Feedbacks
View all comments

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!