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

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

Sorry, this website uses features that your browser doesn’t support. Upgrade to a newer version of Firefox, Chrome, Safari, or Edge and you’ll be all set.