Singapore Airlines' Shares May Fall Further, Charts Show -- Market Talk
0801 GMT - Singapore Airlines' shares may fall further, based on technical charts, says Zane Aw, technical analyst at Phillip Securities Research, in commentary. Recently, the share price fell through S$6.47, the level which it had previously breached on the upside, and broke below a rising wedge pattern within which it had been trading after pulling back from the pattern's resistance, Aw notes. The moving average convergence divergence indicator is showing bearish divergence with a bearish crossover, Aw says. The share price should decline toward initial support at S$6.00, which was the prior swing low formed in November, Aw adds. SIA's shares are 0.8% higher at S$6.44.
