One Good Trend, One Good Bar, One Good Volume - The Secret to Trading Successfully!
Phillip Capital's Top Tier Trader and Remisier.
Robin Ho is also a certified SGX Academy Professional Trainer.
Wednesday, October 4, 2017
SIA Engineering - Structural damage on the chart
SIA Engineering - Down 7 % on heavy volume today and nobody really know the reason. Some attributed to JP Morgan seeking to sell its entire stake to raise 128m. There is market talk of investors selling ahead of Guruda's GMF IPO , its lower operating cost is a threat to SIA engineering operations. There was also talk of market concern about the appointment of new CFO appointed on 29 Sep. The company say they are not aware of any reason in reply to Sgx queries. On the charts , today's price action its a structural damage. On the longer term it is headed for 3.04 and 2.75 respectively.
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