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Friday, 1 January 2021

Technicals of Singapore Airlines: 1 January 2021

   


Technicals of Singapore Airlines:
1 January 2021
(Click on the Technical Chart Above to Expand)

Attached is the Monthly Technicals of Singapore Airlines. A strong November rebound which had gone according to my anticipation was followed by a weak December stalling. This has forced me to relook and flipped me back to high bearishness on Singapore Airline share prices. The resistance in grey is likely to hold. The dead cat rebound support line in pink is like to break down. When it breaks, the blue line support at $1.90 needs to be tested. Region between pink and blue lines is a vacuum zone of sharp price action, in sync with how price actions execute when important support breaks. I expect this support to break down in 2021. I am back to bearishness on all airline companies.

The Donovan Norfolk Technical (SIA):
Bearish

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