SIA - Flying High

SIA unexpectedly bullish today due to its resumption of daily non-stop services to its main US destinations reflects a strategic rather than commercial decision in line with an overall desire to steadily increase capacity at Changi Airport despite little or no improvement in demand.

SIA last month upgraded its non-stop New York, Los Angeles and San Francisco routes to daily, resulting in 21 weekly non-stop flights to the US.

https://www.channelnewsasia.com/news/commentary/singapore-airlines-sia-sq-flight-schedule-us-cargo-direct-14255226

The bulls are climatic today and it need to keep its buying momentum tomorrow in order to fight back the bears as it hit the upper resistance line which the bears see it as an opportunity to shorts.

SIA chart still look bullish since Nov 2020.  The massive vaccination globally could have keep the bullish momentum for SIA as it meant that countries are very likely open for travelling.  Stock market are always forward looking 6 months ahead of time.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.