Price of SIA Engineering have come down a fair bit this week. We take a look at it. (SIA ENGG is tracked in the Dividend Stock tracker)
Markets go through euphoric moments and downright pessimism but SIA Engineering have shown a respectable set of quarterly results. It is certainly strange that on days when yield stocks were beaten down, it managed to stay up well, only for it to sell down well.
We always like SIA Engineering, and at a lofty price of $5 there are little justification to buy it. Its certainly a good business but does not present us with a good margin of safety.
Would $4.60 be a good price? Technically we have a strong support zone near $4.45. If that doesn’t hold, we go back to 2011 territory.
I think many would welcome that scenario.