Singapore Airlines Ltd. discussion
SIA1 Breakout from Symmetrical Triangle: The stock has broken out of a 5-wave symmetrical triangle formation, supported by a strong volume increase, suggesting a bullish continuation.Larger Uptrend: The broader uptrend spanning three years remains intact, reinforcing the stock’s resilience. The recent price action saw a rebound at the base of the symmetrical triangle, which adds further support to the bullish outlook.
Ichimoku Indicator: The Ichimoku indicator shows three bullish golden crosses, adding strength to the upside potential.
MACD Histogram: The MACD histogram is in positive territory, with the signal line trending above the zero line, indicating a continued bullish sentiment.
Stochastic Oscillator: The oscillator is rising, confirming the stock’s bullish momentum.
ROC Indicator: The 23-period Rate of Change (ROC) has broken above the zero line, signaling positive momentum.
Directional Movement Index (DMI): This indicator shows renewed bullish strength, suggesting that buying pressure is increasing.
Volume Expansion: Volume has crossed above the 20-period moving average, confirming the bullish breakout. This volume increase further supports the bullish outlook for the stock.