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.
- Post author:Marubozu
- Post published:July 17, 2010
- Post category:Singapore Airlines (SIA)
- Post comments:0 Comments
Tags: Head and Shoulders