Technical Pulse: Singapore Airlines Ltd November 26, 2019 288

 

SIA (SGX: C6L) technicals signal that the stock may head for a bullish breakout after trading in a prolonged range.

  1. Potential Inverted head and shoulder formation.
  2. Falling wedge formation above 61.8% of the Fibonacci retracement level from 65-9.78.
  3. Morning star formation above 61.8% of the Fibonacci from 65-9.78 and the lower band of the Bollinger band.
  4. Stochastic shows an oversold cross, indicating a bullish return.

 

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

 

CHART LEGENDS

Bollinger Band

Red dotted line = Upper band

Blue dotted line = Middle Band

Green dotted line = Lower Band

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