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, 16 January 2018

Singapore Airlines (C6L) - Bullish Bias

SIA:SP (Weekly Chart) Bullish Bias towards S$11.65

SIA has been trading in a medium term range bound between S$9,43 and S$12.93. Price broke out from its May 17 - Jan 2018 consolidation (Accumulation phase?), a bullish Ascending Triangle like pattern. Using Fibonacci retracement tool, we project the 1st target price at S$11.65 with 2nd target price at S$12.50.

Fundamentally, SIA is experiencing load factor improvements during the last few months 2017. Meanwhile, its related airlines Silkair and Scoot are both also seeing improving passenger carriage growth.

As Asian and global economies continue to strengthen into 2018, SIA operating environment momentum looks set

News Link:

Key risk on the charts would point to the decreasing volume and a price break below S$10.33, will violate the above forecast.