CLOSE TRADE - SIA 19 Feb 2014

Was stopped out of this trade after 4 days. Had entered this trade on 13 Feb after the earnings announcement day @ $9.89. After that, stock price was hanging around $10 resistance with low volume. I thought that $10 ceiling would be enough to contain the stock price, and it will fall after attempting this resistance.

However, STI was up for a couple of days in a row, and inevitably, SIA followed as well. Was stopped out on 19 Feb @ $10.09. I count myself lucky in this case as I set a lower stop loss than the one I planned @ $10.14. Stock continue to make high after I was stopped out. Quite surprised it has the strength to do so. In fact, it pierced the 200-SMA as well. Seems like only the $10.50 resistance would be able to contain SIA if it continues to prove so strong. Volume did pick up when it is attempting to move up.

On hindsight, on the weekly chart, I should have expected the bounce judging from the high volume bar when it hit the $9.50 support. Though the bounce was expected, the strength of it surprised me. Like I said, the $10.50 resistance should have a decent chance to cap the bounce. 

Still shorted too early. Bidding my time...