I am neither a pure fundamentalist nor a technician but surely I have a little bit of knowledge on both. I am pretty surprised on the performance of SIA Engg past few days. Puzzled as to why it recoverered while the others have gone down, I tried to look at its chart. This is my first technical analysis on any company, and I shall give a try. Fundamentally I know SIA Engg is a good company.
As you can see, the stock has been hovering around its support and resistance of $4.14 and $4.95 respectively. It seems to have recently rebounded from its support with good volume and macd histogram. Expect the stock to hit $4.90 soon.
Furthermore this stock is just included in the main ST index so I guess investors are loading up on this one. It may be a bit too late to load on this one but at least I am glad for this stock which already formed part of my CPF portfolio.
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