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)

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