Union Gas Holdings Ltd forms bearish "Symmetrical Continuation Triangle" chart pattern
Aug 08, 2022
Trading Central has detected a "Symmetrical Continuation Triangle (Bearish)" chart pattern formed on Union Gas Holdings Ltd (1F2:SGX-ST). This bearish signal indicates that the stock price may fall from the close of 0.660 to the range of 0.570 - 0.590. The pattern formed over 15 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price has broken downward out of a consolidation period, suggesting a continuation of the prior downtrend.
A Symmetrical Continuation Triangle (Bearish) shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks down below the lower trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior downtrend.
This bearish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
| Year | Yield | Total | Amount | Ex Date | Pay Date | Particulars |
|---|---|---|---|---|---|---|
| 2022 | 1.21% | SGD 0.008 | SGD0.008 | 2022-06-02 | 2022-07-18 | SGD 0.008 per security/unit |
| 2021 | 5.35% | SGD 0.035 | SGD0.01 | 2021-10-04 | 2021-10-15 | Rate: SGD 0.01 Per Security |
| SGD0.0253 | 2021-06-18 | 2021-06-30 | Rate: SGD 0.0253 Per Security | |||
| 2020 | 3.11% | SGD 0.021 | SGD0.005 | 2020-09-09 | 2020-09-24 | Rate: SGD 0.005 Per Security |
| SGD0.0155 | 2020-07-09 | 2020-07-30 | Rate: SGD 0.0155 Per Security |
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