Singapore Airlines (SIA): Forming a Right Shoulder

SIA seems like forming a Right Shoulder. The neckline is at about $14.30 which is also 78.6% Fibonacci Retracement Support level. 20D, 50D and 200D MA are all congested at about $14.50 region. Breaking below the neckline will confirm a Head and Shoulder pattern and SIA may go down to $12.00.

Leave a Reply