Singapore Airlines (SIA):
27 April 2018, Friday, 1.10am Singapore Time
(Click on Technical Chart above to Expand)
Attached is the Technicals for Singapore Airlines. The large symmetrical triangle with a triangular base measurement of X is expected to break down for a projection X in scale of down-move. At the same time, today American Airlines issues a reduced profit guidance. Of particular note is that the CEO of American Airlines highlighted that fuel prices had risen 12 percent in just two weeks and such an increase will have negative impact on airline companies' financials. He has spoken what many airline companies had been keeping quiet on. The same will happen for airline companies worldwide, including Singapore Airlines (SIA). Bearish on airline companies.
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