Is there room for SIA to continue on the upside? Year 2020, SIA traded S$3.20 as the low (IvH&S) and climb up from there. As you can see from the chart, ~S$6.50 is the next level if ~S$5.20 is holding well.
How do we actually draw a FIB for 2020? This is Fibonacci basic! Find the FIB that we have drawn on the left to find the price exhaustion level. SIA formed a DBT during 2007, highest price traded during that time was S$14.23.
This DBT has since brought the price down till 2020.