Reshare – Joey Choy: Is $8 the next destination for SIA shares?

Remisier Joey Choy notes that SIA shares’ price structure has improved from a long-term perspective, and has in the shorter term, strengthened noticeably following a fresh breakout above the key $7.20 resistance level This breakout has effectively turned the $7.20 region into a near-term support zone, with buyers continuing to defend higher levels. At the same time, the 20-day moving average has resumed its upward slope, reflecting improving short-term price strength. Joey believes that this setup favours further upside.

Read on for his explanation, as well as a commentary on how one can consider using SIA call warrants to magnify their exposure to SIA shares: https://warrants.com.sg/marketnews/highlight/todayhighlight/7895

*Joey’s view does not represent that of Macquarie’s. No put warrant is available for SIA

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