SGX – In A Bearish Descending Triangle
SGX stock price is gyating in a Descending Triangle. Normally this chart pattern (Descending Triangle in an up trend) is bearish and will reverse the trend. If SGX breaks down the Descending Triangle support line, the stock price may go down to $6.90 to $7.00 range.
Genting Singapore – Forming a Bearish Descending Triangle?
Genting appears to be forming a Bearish Descending Triangle in an up trend. If this triangle is formed and the stock price breakdown from the triangle support, a trend reversal pattern is confirmed. In addition, Genting has just broken 20D and 50D MA support lines. RSI is heading south (31% now) and MACD shows bearish convergence. These are Sell signals.
