SIA is a big conglomerate once upon a time and to see if suffer to it's state today is really painstaking. It used to be a darling in the SG market where stock prices soared and rising prices attract more investors but today with the rights issue, new debts, the Mandatory Convertible Bonds and with the company issuing more shares as it dilute the current shares, it's just really telling you a story that this counter won't be an investment counter anymore but more on the trading side.
One Covid-19 is enough to cause a good company to a debt company is something unheard of. I studied the daily chart where I saw there was a good green bar breakout which looked like a bull trap to catch the buyers last week where indeed, the sellers sold and it simmered off with the stock gaping down today. The MCB Rights, the Mother share and the Rights itself is currently trading now in the Top 30 Volume now is something unseen for most of the stocks but it just happened to SIA now. I will only trade SIA if necessary as there are better counters now instead.
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Ronald K - Market Psychologist - A Stock Market Opportunist
