I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.

This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.

Tuesday, 2 May 2017

SIA Engineering

SIA Engineering (S59): Mark Up

Technical Observations:
SIA Eng entered into a phase after Mark Up earlier in Jan 2017 period. Stock broke out on 28 Apr. This signals possible excess demand which may see the price mark towards S$3.90 zone, a previous resistance of the stock.

With headline news from Bloomberg reporting that parent company, SIA is in a record plane-buying spree, which may translate to possible record new business for the aircraft maintenance company.

Probable Trade Set-up:
E: S$3.75
S: S$3.64
T: S$3.90

RRR: 1.36x (Low-end)