STOCK IN FOCUS: SIA
The pandemic situation shocked many markets, and the impact seems to be just gaining traction in the West. The situation does not seem to be slowing down yet, and it will still take time for any recovery to the pre-virus phase. Aviation is definitely one hard-hit industry, with governments having travel advisories and even banning flights to and fro certain countries.
SIA is such example being an aviation stock. The stock price has dipped to a critical zone (down 24% from end Jan' 20), but I believe that the zone may not hold, and price is likely to fall through, possibly reaching the indicated price support levels where we could see price rebound off.
Price support 1: $4.84 (46% discount from end Jan' 20)
Price support 2: $3.83 (58% discount from end Jan' 20)
The pandemic situation shocked many markets, and the impact seems to be just gaining traction in the West. The situation does not seem to be slowing down yet, and it will still take time for any recovery to the pre-virus phase. Aviation is definitely one hard-hit industry, with governments having travel advisories and even banning flights to and fro certain countries.
SIA is such example being an aviation stock. The stock price has dipped to a critical zone (down 24% from end Jan' 20), but I believe that the zone may not hold, and price is likely to fall through, possibly reaching the indicated price support levels where we could see price rebound off.
Price support 1: $4.84 (46% discount from end Jan' 20)
Price support 2: $3.83 (58% discount from end Jan' 20)
Commento:
Price indeed broke down lower as airlines continue to take a hit. We have price now at GFC price levels, and if it breaks down further we can see $3.32 and even $2.62.
Commento:
Correction: Price even lower than GFC price levels
