$SIA (C6L.SG)$ If 619 breaks then... Singapore Airlines' sha...

$SIA (C6L.SG)$ If 619 breaks then...

Singapore Airlines' shares may extend their recent decline, based on the technical chart, says Zane Aw, an analyst at Phillip Securities Research, in a commentary. The shares have broken out of a bearish-flag consolidation pattern to the downside following a series of lower highs, which is a bearish signal, the analyst says. Moving average convergence divergence and relative strength index indicators also support this bearish view, with fresh bearish crossover on MACD and decreasing momentum, the analyst says. The shares are likely to head lower to retest S$6.00, a prior horizontal support level seen in November.