Tiger Airways (J7X.SG) off 1.0% at $1.94, not swayed by increased buying activity by funds as investors still wary of potential for more flight cancellations amid sector-wide pilot shortage, says Dow Jones.

Pending any upbeat guidance when carrier reports September-quarter results on Nov. 2, shares not likely to reverse almost-sustained decline since mid-September.

“We expect Tiger to continue sliding,” according to UOB KayHian technical note; “the stock has short-term bearish set-ups after forming a lower high in September”.

Broker notes, shares holding firmly below 12-day, 26-day moving averages, tips downside target of $1.87 (August trough). According to latest SGX filing, Capital Group has become substantial shareholder after raising indirect stake to 5.026% vs 4.776% via open-market purchase earlier this week.

Disclosure comes 2 days after Schroder Investment Management boosted indirect interest to 5.045% vs 4.942%.