SIA - displaying some bullish technicals following latest earnings release
Amid the ongoing US-Iranian crisis, SIA shares $SIA(C6L.SI)$ appear to have found a bottom following its 4.1% gain since its earnings release pre-market on 14 May
📢On 14 May, the company reported full-year net income of $1.18 billion for FY2026, beating analyst estimates of $1.08 billion
While net profit was down 57% over the previous year, SIA had enjoyed three consecutive years of record profits prior
Its fourth quarter operating profit surged 72% on an 11% revenue increase, helped by spillover demand on Europe-Asia routes (Bloomberg)
As investors digested the results and operational headwind considerations of rising fuel costs, as well as the drag of subsidiary Air India's losses on the company, SIA shares climbed 3% last Friday - its largest intraday gain since 8 April.
🔼The share price gain over the past three days has lifted the shares above the $6.25-$6.40 range that it had been trading between since 23 April
📈The technicals of its chart is looking more bullish than before; according to Bloomberg AskB, the MACD line (-0.036) has crossed above the signal line (-0.066), with a positive histogram of +0.031. This is a near-term bullish crossover signal, suggesting improving momentum
SIA is trading just above its 50-day MA ($6.50) — a mild positive — but remains fractionally below its 200-day MA ($6.55). A sustained close above the 200-day MA would be a stronger bullish confirmation and a key level to watch on the upside
Macquarie has a trending SIA call warrant $SIA MB eCW260930(FNVW.SI)$ , which was the 10th best performing warrant yesterday with a 18.8% gain to $0.019 following SIA's 2% gain to $6.54
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
