I dont like where SGX:C6L Singapore Airlines is heading. This is a very very very long descending triangle. SIA might have bottomed here or it might be facing tougher times ahead. I am leaning toward the latter and I would not catch a falling knife right now. Until there's a clearer picture, i would stay away.
This pattern is just as reliable at a bottom as at a top. The general rule of lower activity at bottoms is reflected the the Head and Shoulders Bottom . For this same reason, this bottom pattern is often longer and less broad, and the eventual breakout volume is often not as intense as on a Head and Shoulders Top. Overall, more demands are made on our patience....
Singapore Airlines Is Looking Upside Till S$11
->But there is gap today so I will move Till 9.60
-> Breakout above $10 will Move it for another 2 gaps filling till 11
->10% upside is possible
Weeky chart- I am neutral on this. Usually for a descending triangle it break support and go lower. But it isn't true, it sometime still does break resistance and go higher. We shall see in a 2-4 months times.
