Singapore Airlines (SIA) has been on up trend for the past 18 months. The stock price cannot be going up forever. What goes up must come down, and vice versa. Current SIA’s has broken the reliable up trend support (green line). This support has been proved strong for the past 4 occasions to support the uptrend. This up trend support seems to be turning into Resistance as SIA stock price is unable to get back above the up trend line. Also take note that 20D has crossed down the 50D MA. If we look clearly into the chart again, SIA is very close to the 3 years high of $16.34 resistance and a Head and Shoulders chart pattern may be in formation. Weighing the upside potential and downside risk, it is time to get out if you have already made handsome profit.
- Post author:Marubozu
- Post published:December 10, 2010
- Post category:Singapore Airlines (SIA)
- Post comments:1 Comment