SIQ is a stock I haven’t traded before but it appears to be making a resistance break pattern where a confident move above $7 would give a target of $8.90 (a 26% gain). March was a significant low for SIQ and price rose to break a downtrend only to roll over and form another downtrend which it broke above in late November to make a higher low and a higher high – both buy signals. A not of caution is that price fell back fractionally the last two weeks and it is possible price might continue to move down. A conditional buy here would be required to permit an entry only if price breaks higher.

SIQ 8Jan21


Robert Norman

Phone: 0428 346 951

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