Wednesday, February 23, 2011

Tiger Air

Tiger Air: -3.5% at $1.39, making a new all time low, and extending decline after closing yday below its Feb ‘10 IPO price of $1.50.
Sentiment weak on this counter, amidst recent sale of stakes by significant shareholders, operating disruptions in Australia, and rising jet kerosene prices (worse for budget carriers than full service carriers). Weakness in the overall mkt not helping.

Stock price now resting on Fibo support level (0.618 x $2.25 high). Stock may be a possible short candidate if the support fails to hold.

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