Thursday, July 27, 2017

SIA Engineering: Selling after note sent! Some short covering seen for now! Price 3.69

After seeing an exit signal on the system on 28 June when it was around 4.10, we have seen more selling in SIA Engineering over the past 1 month.

Yesterday morning, a note was sent out to clients to be cautious as we approach the 3.80 – 3.82 support level

We were then at 3.83 and chart with targets was drawn and sent as seen below...

For illustration purpose only

We then saw a break down below the 3.80 and down it went breaching our 1st target...

Went to a low of 3.67 before some short covering seen as of now.

We are seeing some good support at 3.60 which is our 2nd target as drawn above which it can also try to approach.

Hopefully this support holds or would need to find and drawn more downside targets again.

Want to be inform of dangers like this too?

No comments:

Post a Comment