SIA (C6L): Potential Further Upside

Published On: 24 July 2023, 10.00 AM | Sean Ng, Dealer

Key Entry Price Pivot(s):
•$7.33

Recommended Trade:
•Long above $7.33, take profit at $7.48, stop loss at $7.29

Alternative Case:
•Short below $7.33, take profit at $7.11, stop loss at $7.41

Remarks:
•SIA has seen a strong uptrend following its positive earnings announcement on 16 May 2023
•On 30 June 2023, SIA pulled back and found support at the 20 EMA. SIA subsequently rebounded and has again pulled back to the 20 EMA, finding similar support
•We potentially look to take a long trade on SIA, playing the bounce off of the 20 EMA support level