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Wilmar sell down after wave 4The strong sell down March 2020 has confirmed the bearish impulse of the 5 wave structure. Based on the Technical, we believe that the stock bullish correction is coming to an end: 1. Rising wedge formation below 50% Fibonacci retracement level indicate a strong signal to sell. 2. Evening star formation below the 50% Fibonacci retracement level indicate the start of a bearish sell down. Looking closer, the cluster of candles with the evening star formation indicate a weakness when all three candles fails to break the recent top at 3.48. 3. Elliott wave (iv) complied with the theory’s rule, whereby price should display a reversal at the 50% retracement of wave (iii). 4. Prices has been trending below the 200 and 50 Moving averages. On top of that, the 50 moving average crosses below the 200 moving average has formed a death cross and it is still valid. 5. RSI indicate a bearish divergence.
SGX:F34Short
by William-trading
12
SIA SGX Stock (Down Trend Since 2008)View On SIA (5 MAY 2020) Uncle Warren said, he has offloaded all the airline stocks under his portfolio. Upon looking at the SIA counter, it is already on the decline since 2008 and it may be already very near to the bottom. From the TA point of view, we are seeing $5 as a decent support level. The price may find it footing there and can launch some bullish swing back movement. If the swing back occurs, it can go to $6.6 - $7 region. Just be careful. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor. DISCLAIMER: Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
SGX:C6L
by SonicDeejay
2