SIA Engineering Finally BreakoutAfter a long consolidation, SIA Engineering has finally broken out of the symmetrical triangle. I foresee a continued uptrend if the share price holds above the breakout level.
SEGSY trade ideas
Super bullish from both Fundamental and Technical perspective
Based on historical chart, we can see that during GFC in 2008/09, SIA Engineering drop to the lowest point to $1.48 and closed at $1.87 in March 2009 on the monthly chart.
During Covid-19 Pandemic, SIA Engineering dropped to $1.48 once again and slowly supported between $1.48-$1.90.
Since then, it continue to climb up (recovery) since Covid-19 vaccine slowly introduce, country open up.
However. last week, based on Singapore PM Lee speech, open up Singapore and Singapore border, this will be a good news for the economy and some sector will perform outstanding.
From the surface Fundamental + technical perspective, I'm confident with the bullish in SIA engineering.
March 2022 is ending soon. if the candle able to closed above $2.4, above 23.6% Fibo from the swing high to low, we will be seeing $3 as the next resistance.
SGX SIA Engineering Neutralstock is in a wedge, depending on next movement, to long or short depending if it breaks above resistance or support
SIA Engineering (Downtrend)Short term (4h) - Bear , Mid term (Day) - Bear , Long term (mth) - Bear
Highly possible that the downtrend will continue until it hits the next support level. No significant volume/candle pattern to indicate a reversal in the trend.
P.S - Remember to ride on the wave trend. The trend is your best friend.
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