Juliac

SIA - capitulated and on the slow path to recovery

Long
SIA (SGX:C6L)  
SGX:C6L   SIA
Bullish divergence formed as it made a new low on May 20th on high volume. The signs are clearer now that the low is in and going forward it should be making a slow recovery. Time to long this morning @ 4.20 +/- from with an initial stop loss below 4.10 (or even 4.00 thou I believe the latter is less likely now). Trail stops up as the trade develops on the upside scaling out partially at suggested Targets of 4.85, 5.15 and 5.60 etc (fibonacci retracement levels on the way up).

Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.