Long term trade aligned with technicals
The tailwinds are obvious - Singapore is gradually opening up to other countries. Airlines and travel industry is going to receive a lot of support (both consumer, government and businesses) and recover from covid eventually. Singapore Airlines is one the best international airlines in the world and is a safe long term play.
The stock price is consolidating with a triangle pattern and a bull flag formation. Coincidentally the next leg up is about the same length of the bull flag pole. Current price of $4.28 is a good entry price. Also has a good chance of breaking the weekly trend line at the top and return to pre covid levels to the 8s. This could be a slow gradual long term rally.
The stock price is consolidating with a triangle pattern and a bull flag formation. Coincidentally the next leg up is about the same length of the bull flag pole. Current price of $4.28 is a good entry price. Also has a good chance of breaking the weekly trend line at the top and return to pre covid levels to the 8s. This could be a slow gradual long term rally.
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