SIA has been on a downtrend which never recovered since Jan 2010. In the short term, price broke out of the lows from $3.20 to attempt a breakout on the 13th of Aug 2020. It has managed to main above $3.60 ST support for 15 days. If support at $3.60 holds, it will attempt to test a huge resistance in the medium term at $3.90 to $4.00. A successful hold above $3.90 might mark the beginning of a rebound in SIA shares in the medium term. Max bounce targets will be $4.60 to $5.00 in the medium term.
Bottom Line : SIA shares must hold above $3.60 in the short term for it test the strong medium term resistance at $4.60 to $5.00. The stock is in a strong downtrend and needs to close above $5.00 convincingly for it to recover from its 10 year long downtrend.
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