Are you still grounded $SINGAPORE AIRLINES LTD(C6L.SI)$?
Dear SQ,
Why is your stock price still stuck at $5.4 and can't break through resistance? Even worse, there's another resistance at $5.58 ahead. Take a look at the first plot if unsure.
With so much turbulence, how to soar smoothly in the future?
I thought you made headway with such beautiful earnings :
- A Q1 net profit of S$370 million after a 14x increase in passenger traffic year on year thanks to an easing of COVID-19 travel restrictions.
- Your revenue tripled to S$3.9 billion in the three months to June 30 and its quarterly operating profit of S$556 million was the second highest in the company's history.
- You started ramping up capacity and expects to reach about 81% of pre-pandemic levels by the end of December, up from 61% in the June quarter.
- You even plan to open Terminal 4 on 13 Sep to meet demands, but Jetstar refuse to bulge [LOL]
With such growth, I expect your stock price to surge to pre pandemic levels of $9!! At least!
Sadly, analysts only give a target price of not more than $6.6 (DBS) Some even low ball your stock to $5.18 (UOB). That's just sad [Cry] [Facepalm]
Apparently, your stock price is a lagging indicator of your progress... 🤣 Despite, stock market being a leading indicator of the economy.
A word of caution even as inflation drops and oil price decreases to aid your cause. Air fares will also come down and people will soon get "tired" of travelling [Grin]
You should also quickly stop extending your Krisflyer membership for travellers that don't meet the air miles criteria and "force" people to fly more.
You are a top notch airline, so please make your stock reflect it.
In the meantime, I will wait patiently.
Yours faithfully,
Concerned investor. [Miser] [Bless]
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.
I am doing forex trading but would like learn this as well
Thanks
[Like] [Like] [Like]