Singapore Airlines (SIA): It is time to get out!

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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.

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STI: Head and Shoulders at Sight!

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Singapore Straits Times Index may be forming a  Head and Shoulders with the neckline at about 3,120. Successful forming of this Head and Shoulders will send STI down to 2,928. Be cautious! Some negative factors to trigger the bear:

  • War in Korea Peninsula
  • European Debt Crisis
  • China continue to tighthen the Monetary Policy

However, STI may continue the up trend if the patterns fails with some positive factors:

  • Hot Money is flowing to Asia.
  • Year End Window Dressing Effects.

Trade with Cautious!

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