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Wednesday, October 4, 2017

SIA Engineering - Structural damage on the chart

SIA Engineering -  Down 7 % on heavy volume today and nobody really know the reason. Some attributed to JP Morgan seeking to sell its entire stake to raise 128m. There is market talk of investors selling ahead of Guruda's GMF IPO , its lower operating cost is a threat to SIA engineering operations. There was also talk of market concern about the appointment of new CFO appointed on 29 Sep. The company say they are not aware of any reason in reply to Sgx queries. On the charts , today's price action  its a structural damage. On the longer term it is headed for 3.04 and 2.75 respectively.
All posts and charts are for educational and illustration purposes only

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