SIA

SIA: CIMB has Technical Sell Call. Note that the sharp fall in August does not look complete. It is currently forming a bearish flag pattern, which is likely to lead to another fall to new lows before a stronger rebound takes place.

Technical landscape is starting to deteriorate with its MACD turning down again after testing the zero line. Its RSI has stalled within the 50-60pts range, which is usually a resistance for the RSI on a rebound. Believe that prices are more than likely to fall further and a break below $10.83 would likely confirm the next leg down towards S$9.20-9.70. Use any rebound to sell into strength with a stop placed above $12.02.

Its long-haul budget carrier, Scoot, will take to the air in Jun '12.
Scoot will initially fly to 4 destinations in Australia and China, using Boeing 777-200 planes which have a 10-hr range. It will have 4 aircraft by end '12, but by 2015, it will have a fleet of 14 planes, including some longer-range 777-300s which wld put destinations in Europe, Middle East and Africa within reach.
Scoot's CEO highlights that it "would be every budget traveller's dream: offering tickets at a 40% discount to full service carriers, fun and a cheery flying experience to exciting holiday destinations".