TigerAir closed $1.85 on 9th Jul 2010 and technically it is on an uptrend since breaking out of a symmetrical triangle at $1.75. The expected target for the breakout is at least $1.94 which is near the 52-week high of $1.96. Both the short and long term GMMA set of lines are in expansion mode and trending upwards which further suggesting the uptrend. For past weeks, the price has been supporting well at the $1.80 level probably consolidating further before continue to the upside target. The breakout at $1.75 lacked volume and hence further consolidation is required for further upside.
A pull back below $1.75 would void the whole symmetrical triangle breakout trend which is the downside risk for the moment. At current price of $1.85, it is a 50-50 upside and downside ( downside $1.75 and upside $1.94-$1.96). Note also that aviation sector in Asia is recovering this year and based on present fundamental on the global aviation sector, the upside is more than downside for TigerAir
