Sea Ltd (US: SE) Upside has been performing relatively well after sustaining above the US$300.00 psychological resistance on August 2021. Despite Ichimoku showing two out of three death cross and Senkou-span A sloping down, technical price action indicate that there is a possible chance of the downside merely a correction:

1. The falling wedge formation is a sign of a bullish continuation pattern after last Friday’s bullish hammer close above the lower boundary of the immediate resistance zone at US$314.62-US$322.84. This indicate that bulls are gaining momentum to attempt to break above the upper boundary of the resistance zone.
2. Price target at 200.00% of the previous pennant has yet to be met after prices met the 161.8% extension level. Sell-off remain corrective based on the momentum after rebound attempt to fill the sell gap twice on 17^th September and 23^rd
3. RSI indicate a rebound above the 40 support line, should it clear the 50 mean reversion line, there is a possibility of a return of the bull.

*Expected timeline of the trade is 15 weeks from the date of report issuance.

CHART LEGEND

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line