Wing Tai Holdings Ltd - Bearish Downside Breakout

Wing Tai Holdings Ltd forms bearish "Downside Breakout" chart pattern Aug 19, 2022 Trading Central has detected a "Downside Breakout" chart pattern formed on Wing Tai Holdings Ltd  (W05:SGX-ST). This bearish signal indicates that the stock price may fall from the close of 1.670  to the range of 1.520 - 1.540. The pattern formed over 118 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 broke downward out of a trading range suggesting we're entering a new downtrend. The Downside Breakout represents a trading range in which prices move sideways between two parallel  horizontal lines. It's often a pause or congestion area within an existing trend though sometimes the breakout results in a reversal to the prior trend. Either way, a downside breakout through the lower support line signals an end to the consolidation period and the start of a downtrend. This bearish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology. Yield at close 1.67

Year	Yield	Total	Amount	Ex Date	Pay Date	Particulars
2021	2.99%	SGD 0.05	SGD0.03	2021-11-03	2021-11-19	Rate: SGD 0.03 Per Security
			SGD0.02	2021-11-03	2021-11-19	Rate: SGD 0.02 Per Security
2020	1.80%	SGD 0.03	SGD0.03	2020-11-04	2020-11-19	Rate: SGD 0.03 Per Security
2019	2.99%	SGD 0.05	SGD0.03	2019-11-05	2019-11-21	Rate: SGD 0.03 Per Security
			SGD0.02	2019-11-05	2019-11-21	Rate: SGD 0.02 Per Security