Singapore Airlines (SIA) is on Short Term Up Trend for now after finding the recent bottom of about $12.90.

A tough resistance is at about $15.00 which is the 61.8% Fibonacci Resistance and also the 200D MA resistance.

Follow up on the previous analysis on “Singapore Airlines: Crash Landing Now!”, looks like SIA is rebounding from the 61.8% Fibonacci Retracement Support Level. However, the SIA plane is not fully stopped yet.

Things to watch out for the bearish trend to stop:

• The current rebound from 61.8% Fibonacci Support will test the 20D MA resistance at about $14.00. Need to see whether SIA can clear this 20D MA resistance and stay above this level.
• If SIA is unable to clear this 20D MA resistance, it is expected SIA to test the 61.8% Fibonacci Support again at about $13.20.  If this support is broken, the bearish trend will continue for Singapore Airlines.

Also note that the current oil price of US$104 per barrel have significant impacts on SIA future earnings.

Singapore Airlines (SIA) has been in free fall mode after failing to break the 50D MA resistance thrice.  The 1st failure to break the 50D MA resistance has sounded the 1st alarm. See previous post HERE.

SIA is currently on the down trend as the stock price is trading below 20D, 50D and 200D MA. SIA also break the 78.6% Fibonnaci Retracement Support level ($14.59) and is now heading towards the 61.8% Fibonacci Retracement Level at about $13.21. No clear sign when this crash landing can stop for SIA for the time being but should be around the 61.8% FR level.