Tiger Airways has shown a Double Tops chart pattern and just broke the neckline at $1.88. TigerAir can go down to $1.64 if the breakdown is successful. Current PE of 35.3 shows clearly the stock is over value. IPO euphoria is over!
STI is in the process of forming a Double Tops and currently testing the 50D MA support at about 2,920.
The next support is at about 2,860 which is a 200D MA followed by the Double Tops neckline at 2,701 (which is also 78.6% Fibonacci Retracement Level). Breaking down the neckline support will send STI to 2,363 level.
HL Asia is trading within an Ascending Triangle. At the moment, the direction is not very clear because HL Asia may breakdown or breakout to go up. Looking closely at the chart, a mini double top is formed with the neckline (green) somewhere between $3.40 to $3.50. Breaking down from this mini double top will send HL Asia to $2.80. Reversely, if the mini double top resistance is broken (about $3.60), the price target of this breakout is $4.20.
