Monday, April 2, 2018

SembCorp Ind - Broke Out

SembCorp Ind started to break out last Thursday. After a long time while SembMarine had ran for some time, SembCorp Ind started to show some signs of colors after some whipsaw in a trading range. I am not sure what news drove the stock price to trend higher but there was definitely some big buyers whacking up the shares at a good steady speed. Currently from the chart, it has reached a short term supply zone and I need to judge how many sellers will be emerging before taking a position on the long side. This stock is in my watchlist.

Update: 2/4/2018, 10:50am

Sembmarine indeed hit short term supply zone and came down!! Made an outlook at 8:11am LIVE on my blog!

Ronald K - Market Psychologist - A Stock Market Opportunist