Market Structure

SIA (May 13th 2021)

Published on May 13, 2021

Time to buy? Target?

Short term update on SIA stock price

First Post on SIA : https://mymarketstructure.com/singapore-equity-stocks/singapore-airlines/
Second update on SIA : https://mymarketstructure.com/singapore-equity-stocks/singapore-airlines_pg2
Third update on SIA : https://mymarketstructure.com/singapore-equity-stocks/singapore-airlines_pg3/
Price on May 13th 2021 : $4.77

We have been successful in tracking and tracing the probable moves in SIA stock prices. As we were expecting prices to reach $5.82 and $6.2 , prices settled made a high at $5.78 on 8th April 2021. Since then, prices have corrected and today settled at $4.77. In our last post in Feb 2021, we were expecting a consolidation to happen, it happened but a bit late. It started after making these highs. Looking at the price structure, it has made minimum correction that is required for it to stay healthy and get ready for the next leg higher. As such, it can be a good time to purchase now. There is a possibility that prices may further dip down to levels close to $4.5 or so but that should be seen as an opportunity to get in the stock. One major change in this update is adjustment of critical support level. We have raised the critical support level now to $.3.95. Price settling below this level will indicate that the bullish momentum was just a countertrend rally in the overall bearish market. However, it's too early to talk about it. We will go in details and re-calibrate our analysis once that happens. Until then, our stand stays overall bullish Short term view: Buy on dips and aim for $6.2 and higher (refer to the image on top)